Malaysia's dominant offshore drilling contractor Velesto Energy believes drilling activities in Malaysia and Southeast Asia are on the increase moving into the second half of 2022.

In Malaysia, Velesto estimates that between 100 and 115 wells are planned in both 2022 and 2023 that need to be drilled by jack-up rigs.

Production enhancement, well intervention, and well abandonment activities are also set to increase in 2022 and 2023, the company said in its quarterly report.