Velesto Energy Berhad, formerly UMW Oil & Gas Corporation Berhad, is a Malaysia-based investment holding company. The Company is engaged in providing corporate management, administrative and professional services, as well as financial support to its subsidiary companies. Its segments include drilling services, oilfield services and others. Its drilling services segment provides drilling services and workover rig services to the upstream oil and gas sector. The oilfield services segment provides oil country tubular goods (OCTG) threading, repair and inspection services. The others segment is involved in investment holding, provision of support services, management and corporate services. The drilling services segment owns and operates several drilling rigs and hydraulic workover units (HWUs), and acts as an agent for two providers of specialized equipment and service. The rigs are chartered out to oil companies for their exploration, development and production activities.