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UMW secures jackup rig contracts from Petronas

UMW secures jackup rig contracts from Petronas

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Malaysian oil and gas contractor UMW Oil & Gas Corporation has announced that subsidiary UMW Offshore Drilling has been awarded contracts for the provision of drilling rig services for Petronas. The combined value of the contracts is approximately $34.81m.

Under the contracts, UMW will deploy its jackup drilling rig UMW Naga 3 to drill five firm wells with options of drilling an additional five wells, and UMW Naga 4 to drill two firm wells with the option of drilling additional three wells, from June 2017.

Earlier this month, UMW sold it stake in semi-submersible rig Naga 1 and then went on to terminate a deal to merge with OSV owner Icon Offshore and tanker operator Orkim.

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Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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