Velesto Energy Bhd 2021 IR
The report outlines Velesto Energy Berhad's performance for the fiscal year 2021, highlighting its resilience amidst a challenging operating environment and the NAGA 7 rig incident. Despite a lower rig utilisation rate of 48% and a revenue decrease to RM378 million, the company successfully secured USD59 million in new contracts, including a key workover contract in Vietnam. Velesto received RM561 million in insurance reimbursement for NAGA 7, which was utilized to reduce its total debt by 45% to RM582 million. Additionally, the company maintained its position in the FTSE4Good Bursa Malaysia Index and set a 2030 emissions intensity reduction target of 10% for operating days and 30% for revenue.
Company: Velesto Energy Bhd
Sector: Mining & quarrying
Country: Malaysia
Year: 2021
Type: IR
Pages: 74
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Velesto Energy Bhd
Integrated Annual Report
The report outlines Velesto Energy Berhad's performance for the fiscal year 2021, highlighting its resilience amidst a challenging operating environment and the NAGA 7 rig incident. Despite a lower rig utilisation rate of 48% and a revenue decrease to RM378 million, the company successfully secured USD59 million in new contracts, including a key workover contract in Vietnam. Velesto received RM561 million in insurance reimbursement for NAGA 7, which was utilized to reduce its total debt by 45% to RM582 million. Additionally, the company maintained its position in the FTSE4Good Bursa Malaysia Index and set a 2030 emissions intensity reduction target of 10% for operating days and 30% for revenue.
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Document Details
Report Year
2021
Reporting Period
Jan 1, 2021 - Dec 31, 2021
Fiscal Year
2021
Type
Integrated Report
Language
English
Pages
File Size
Standards & Assurance
Reporting Standards
Materiality Assessment
Assurance
Assurance Provider
Assurance Standard
ESG Data?Experimental: AI-extracted data, may contain inaccuracies
Energy Consumption
Water Consumption
Women on Board
Women in Management
Workplace Fatalities
Employees