前景：
钻井服务业务部门：
随着基准布伦特原油价格持续改善，过去一个月徘徊在每桶70美元以上，上游行业信心增强，导致更多的活动尤其是钻井活动。虽然近期油价预计不会进一步大幅上涨，但该行业目前正在目睹逐步复苏，尽管进展缓慢。

目前，Velesto的五个自升式钻井平台正在与另外两个预计在第三季度动员。尽管不保证持续充分利用Velesto的钻机，但预计利用率在不久的将来会保持在相对健康的水平。除了致力于扩大现有合同外，Velesto还在招标和谈判新合同以取代即将到期的合同。

油田服务业务部门：
油田服务业呈现出复苏缓慢的迹象。Velesto不断检讨此分部以评估其可行性。

集团：
Velesto目前致力于确保更多合同和提高运营效率。预期利用率及营运成本的潜在改善将为Velesto二零一八财政年度的财务表现带来正面贡献。

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James Ng

The Group recorded a profit before tax of RM4.9 million in the first quarter of 2018 against the RM104.9 million loss recorded in the same quarter of 2017, a significant improvement of RM109.8 million or 104.7% mainly due to higher rigs utilisation and net forex gain of RM18.2 million.

The Group posted a profit of RM4.9 million in the first quarter of 2018 compared to the RM977.3 million loss reported in the fourth quarter of 2017 due mainly to asset impairment loss of RM982.1 million.

Prospects:
Drilling Services Segment:
With the benchmark Brent oil price continuing to improve, hovering above USD70 per barrel for the last one month, more confidence is seen in the upstream sector, resulting in more activities especially in drilling. While the oil price is not expected to rise significantly further in the near term, the industry is presently witnessing a gradual recovery, albeit at a slow pace.

At present, five of the Group’s jack-up drilling rigs are working with two more expected to be mobilized in the third quarter. While there is no guarantee for continuous full utilisation of the Group’s drilling rigs, the utilisation rate is expected to stay at a relatively healthy level in the near future. Besides working on extension of existing contracts, the Group is also bidding and negotiating for new contracts to replace expiring ones.

Oilfield Services Segment:
The oilfield services sector is showing signs of slow recovery. The Group is continually reviewing this segment to evaluate its viability.

Group:
The Group is presently focussing on securing more contracts and improving operational efficiency. The potential improvement in both utilization and operating cost is expected to contribute positively to the financial performance of the Group for the financial year 2018.

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James Ng