Velesto secures $16.5 million drilling contract with Jadestone offshore Malaysia

Summary

Velesto has secured a $16.5 million drilling contract from Jadestone Energy for operations at the East Belumut field offshore Malaysia. The contract involves the NAGA 8 jack-up rig and is set to commence in March 2026, lasting four months. Jadestone's infill program has previously increased field output and reserves significantly.

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