Global oil and gas industry services provider Velosi has reportedly been awarded a $4.7 million contract by BP Indonesia, which will see the firm provide integrity management and documentation for the Indonesian arm of the UK oil titan's onshore and offshore assets for a four-year period, Thompson Financial has revealed.
<p>In addition to the technical services contract awarded by BP Indonesia, ShareCast reported that Velosi, which specializes in quality control and quality assurance services, has also received four other contracts.<br /><br />The UK business publication reported that Velosi's shares rose on its revelation that it had received the contracts, which in addition to the BP agreement, include a one-year master services deal with US oil major ConocoPhilips. Velosi will provide inspection and expediting services, as well as manpower supply to the US firm, ShareCast reported. <br /><br />Thompson Financial cited Nabil Abdul Jalil, Velosi's chief executive, as saying: investment in oil and gas infrastructure shows no signs of slowing and is supported by the continued strength of global oil prices. As a result, Mr Jalil believes that the firm is well placed to secure new deals in the future, the publication revealed.</p>