Snapshot from Jun 25, 2026 at 22:38 UTC. For live data and tracking: View Live
Events / Business / Velesto Sumber wins NGP contract
Business contract award

Velesto Sumber wins NGP contract

Analysis based on 6 articles · First reported Jun 04, 2026 · Last updated Jun 08, 2026

Sentiment
60
Attention
4
Articles
6
Market Impact
Direct
Live prominence charts, article sentiment distribution, and event development timeline available on the NewsDesk Dashboard
Market Impact

The contract award to OVO Energy's subsidiary, Velesto Sumber, is expected to positively impact OVO Energy's earnings and strengthen its drilling segment. This reflects continued offshore development and exploration activities in Southeast Asia, particularly in the Gulf of Thailand, which is beneficial for oil and gas services companies.

Oil & Gas Services Energy
Event Summary

OVO Energy's wholly-owned subsidiary, Velesto Sumber, has secured a contract from Northern Gulf Petroleum (NGP) for jack-up drilling rig services offshore Thailand. The contract involves deploying the NAGA 6 rig for a drilling campaign in the Gulf of Thailand, including four infill wells and three exploration wells, with options for two additional exploration wells. Operations are expected to commence in the third quarter of 2026. Megat Zariman Abdul Rahim, President of OVO Energy, stated that the award supports the continued utilization of their premium jack-up rigs and will contribute positively to earnings, strengthening OVO Energy's drilling segment amid ongoing offshore development in the region. NGP is Thailand's only privately owned oil and gas exploration and production company.

Key Actions
100 Velesto Sumber secured contract Northern Gulf Petroleum
95 Northern Gulf Petroleum awarded contract Velesto Sumber
Entities Involved
priv
OVO Energy
OVO Energy's subsidiary, Velesto Sumber, secured a contract from Northern Gulf Petroleum, which is expected to contribute positively to its earnings and strengthen its drilling segment.
Importance 100 Sentiment 70
priv
Velesto Sumber
Velesto Sumber, a wholly-owned subsidiary of OVO Energy, was directly awarded the contract for jack-up drilling services offshore Thailand.
Importance 90 Sentiment 70
priv
Northern Gulf Petroleum
Northern Gulf Petroleum awarded a contract to Velesto Sumber for drilling services in the Gulf of Thailand, supporting its offshore development and exploration activities.
Importance 80 Sentiment 0
cnt
Thailand
The drilling campaign will take place offshore Thailand in the Gulf of Thailand, indicating ongoing offshore development and exploration activities in the region.
Importance 40 Sentiment 0
per
Megat Zariman Abdul Rahim
As President of OVO Energy, Megat Zariman Abdul Rahim commented on the significance of the contract award for the company's earnings and market position.
Importance 30 Sentiment 0
priv
Hibiscus Oil & Gas Malaysia
Hibiscus Oil & Gas Malaysia previously awarded a contract to Velesto Drilling for drilling activities in Malaysia, showing OVO Energy's broader market engagement.
Importance 10 Sentiment 0
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