Malaysia’s UMW Oil & Gas Corporation has announced that that UMW Offshore Drilling has sealed a contract with Repsol Oil and Gas Malaysia for 2014-built jackup rig UMW Naga 5.
The contract is for one year and includes an additional one-year extension. Commencement is scheduled for mid-September 2017.
UMW said the value of the contract is around MYR113m ($26.4m), indicating a day rate of around $72,000.