Summary
Velesto Energy Bhd (Velesto) formerly UMW Oil & Gas Corp Bhd, is an oilfield service provider. It serves customers in upstream sector of the oil and gas industry. The company owns and operates offshore drilling rigs and modular and versatile workover units. Its oilfield service offerings include threading, inspection, repair and maintenance works. Its oil drilling rig assets comprise of Naga 2, Naga 3, Naga4 and others. The company provides drilling services for exploration, development and production wells with its fleet of offshore drilling rigs. It also offers workover services through its fleet of hydraulic workover unit. Velesto is headquartered in Kuala Lumpur, Malaysia.

Velesto Energy Bhd Key Recent Developments

Mar 26,2021: Velesto secures RM33mil drilling job for Naga 7
Mar 19,2021: Velesto Energy: Others letter of awards for provision of jack-up drilling rigs (naga 2 and naga 5) for Petronas Carigali
Jul 16,2020: Velesto Energy announces change in boardroom
Jun 29,2020: Velesto Energy announces results of annual general meeting
Jun 09,2020: Velesto Group appoints Mohd Rashid Mohd Yusof as chairman

This comprehensive SWOT profile of Velesto Energy Bhd provides you an in-depth strategic analysis of the company’s businesses and operations. The profile has been compiled by GlobalData to bring to you a clear and an unbiased view of the company’s key strengths and weaknesses and the potential opportunities and threats. The profile helps you formulate strategies that augment your business by enabling you to understand your partners, customers and competitors better.

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- Business description – A detailed description of the company’s operations and business divisions.
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- SWOT Analysis – A detailed analysis of the company’s strengths, weakness, opportunities and threats.
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- Important locations and subsidiaries – A list and contact details of key locations and subsidiaries of the company.
- Detailed financial ratios for the past five years – The latest financial ratios derived from the annual financial statements published by the company with 5 years history.
- Interim ratios for the last five interim periods – The latest financial ratios derived from the quarterly/semi-annual financial statements published by the company for 5 interims history.

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