Velesto Power Berhad and ICON Engineering Pty Ltd have signed an settlement to collaborate on the supply of Rig-Put in Wellhead Platforms (RIWHPs) for offshore oil and gasoline developments in Malaysia — marking a first-of-its-kind execution mannequin for the nation’s upstream sector.
The partnership combines Velesto’s operational experience in jack-up drilling with ICON’s world management in rig-installed platform design and set up. By integrating drilling and platform set up inside a single offshore marketing campaign, the method goals to chop prices, shorten growth timelines, and simplify execution for operators pursuing shallow-water and marginal discipline initiatives.
“By aligning Velesto’s drilling functionality with ICON’s platform expertise, we’re delivering sensible, cost-efficient outcomes for operators,” mentioned Megat Zariman Abdul Rahim, President of Velesto. “This collaboration enhances venture assurance and strengthens Malaysia’s capability to ship quick, fit-for-purpose offshore developments.”
David Subject, Managing Director of ICON Engineering, added that the rig-installed platform mannequin eliminates the necessity for heavy-lift vessels, decreasing venture threat and enabling simultaneous drilling and building. “The mixed assets of Velesto and ICON present Malaysian operators with a singular and seamless service providing,” Subject mentioned.
The settlement introduces a streamlined supply framework that integrates native execution, worldwide engineering, and rig-based set up to reinforce effectivity and security throughout Malaysia’s offshore worth chain.
