Petronas taps Velesto for plug & abandonment work in Malaysia

Malaysia’s Velesto Vitality has secured a deal for plug and abandonment (P&A) companies with Petronas Carigali, a wholly-owned subsidiary of Petroliam Nasional Berhad (Petronas), on two offshore platforms in Malaysia.

Velesto Vitality revealed on Thursday that Velesto Workover (VWO), a wholly-owned subsidiary of the agency’s Velesto Malaysian Ventures, has acquired a piece order award (WOA) from Petronas Carigali for the availability of plug and abandonment built-in companies for Tembungo-A (TMBG-A) and Tembungo-B (TMBG-B) platforms.

These offshore platforms are situated on Sabah’s first developed offshore discipline within the Sabah Basin of East Malaysia, which was found in 1971 by Esso Exploration. The Tembungo discipline lies 75 km from Kota Kinabalu, in 277 toes of water. The unprocessed combination of fuel and crude from Tembungo-A is routed by a six-inch trunk line departing to Tembungo B.

In accordance with Velesto, this deal has an estimated worth of as much as RM 60 million (round $13.4 million). The period of this marketing campaign is 21 months for Tembungo-A from Could 2022 till January 2024. The deal additionally has an extension choice of 12 months for Tembungo-B from January 2024 till December 2024.

As well as, this contract entails the availability of built-in undertaking administration and hydraulic workover unit companies at some stage in the marketing campaign.

In the case of Velesto’s newest actions, it’s price noting that the agency upgraded two jack-up drilling rigs with offline capabilities just lately.

This was achieved to cut back days spent on a properly together with drilling prices and curb emissions.