Velesto, ICON team up for rig-installed platform service offshore Malaysia

Velesto Energy and ICON Engineering have signed an agreement to jointly provide services covering installation by jackup rigs of wellhead platforms for oil and gas projects offshore Malaysia.

Integrating drilling and platform installation in a single offshore campaign, Velesto said, can simplify implementation, cut capex and lead to more predictable delivery of shallow-water and marginal field developments.

“By aligning Velesto’s offshore drilling expertise with ICON’s innovative platform solution, we are delivering practical, cost-efficient outcomes for operators…," said Megat Zariman Abdul Rahim, president of Velesto. “For Velesto, this marks an important milestone and reflects our continued focus in extending the role of our rigs beyond drilling.”

David Field, managing director of ICON, added that his company has “pioneered rig-installed platforms worldwide."

He continued, “Our approach consistently reduces development costs and risks by eliminating the need for large heavy-lift vessels. This collaboration enables operators to combine platform installation and well drilling under an integrated scope, simplifying interfaces and project delivery. Jackup rigs are ideal assets for both drilling and construction.”

Velesto has a fleet of six jackup drilling rigs and two hydraulic workover units. ICON is a Perth-based offshore service company specializing in minimal rig-installed wellhead platforms, win a variety of water depths and facilities weights.