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O&G sector still has upside on further capex spending by oil majors

BURSA Malaysia-listed oil and gas (O&G) companies have seen more activity and interest in the past half year than most sectors, buoyed by the reopening of China, elevated global crude oil prices and higher capital expenditure (capex) spending by oil majors, particularly Petroliam Nasional Bhd (Petronas). Even so, some analysts are of the view that there is still a lot of gas left in the tank for the sector as they say the recent activity only marks the start of an upcycle because average crude oil prices are projected to go higher in 2023. ....

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Hess Takes Velesto Rig For Work On Malaysian Gas Field

Hess has chosen rig owner Velesto Energy to carry out the drilling work on a project off Peninsular Malaysia. ....

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Hess Takes Velesto Rig For Work On Malaysian Gas Field

Hess has chosen rig owner Velesto Energy to carry out the drilling work on a project off Peninsular Malaysia. ....

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Velesto completes offline capabilities upgrade for Naga 5 and 6

KUALA LUMPUR: Velesto Energy Bhd has completed upgrading works for its Naga 5 and Naga 6 rigs to make them the first in the country with offline capabilities. ....

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Velesto Upgrades Two Jack-Up Rigs

Malaysian offshore drilling firm Velesto said Wednesday it had completed 'the offline capabilities upgrading works' for NAGA 5 and NAGA 6… ....

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