Velesto Energy, through its subsidiary Velesto Drilling, has entered into a memorandum of understanding (MOU) with SLB, aimed at enhancing the capabilities of its drilling rigs.
The three-year partnership will see the deployment of SLB’s DrillOps Intelligent Well Delivery and Insights Solutions, as well as its Drilling Emissions Management Solutions, on selected Velesto rigs.
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These digital solutions are expected to improve drilling performance and monitor emissions, potentially unlocking new commercial opportunities for both companies.
Velesto, a Malaysia-based multinational, provides services to the upstream oil and gas industry with a fleet of six jack-up drilling rigs and two hydraulic workover units.
Besides Malaysia, the company has a presence in countries including Indonesia, Vietnam, the Philippines and Thailand.
Velesto president Megat Zariman Abdul Rahim said: “This agreement represents a significant shift in our approach to enhancing our rig technical capabilities.
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This MOU follows a recent joint venture (JV) established by ADNOC Drilling, a subsidiary of Abu Dhabi National Oil Company (ADNOC), named Turnwell.
This JV, which includes SLB and Patterson-UTI, is focused on accelerating the development of unconventional oil and gas resources in the United Arab Emirates.
Turnwell is expected to complete an initial 144 wells by the end of 2025, with ADNOC Drilling holding a 55% majority stake.
SLB, holding a 30% stake in Turnwell, will contribute its expertise by providing integrated drilling, stimulation and completion services.
The company will also offer project management, digital capabilities and subsurface support.
In addition, last month SLB announced an enhancement of its collaboration with NVIDIA to develop generative AI solutions tailored for the energy sector.
Under this collaboration, SLB and NVIDIA will jointly develop and refine AI models to meet the specific needs of the data-intensive energy industry, focusing on areas such as subsurface exploration, production operations and data management.
