UMW purchases jack-up pair

Kuala Lumpur: UMW Oil & Gas Corp (UMW OG) has purchased a pair of jack-up drilling rigs pair for $434m in cash.

The company has inked a purchase agreement with Tianjin Haiheng Shipbuilding & Offshore Engineering Service for the resale jack-up pair due to be delivered in September and December.

"These acquisitions are in line with our vision to further expand into the broader Asia Pacific region as part of our plan to be a global player," said Rohaizad Darus, president of UMW. [13/02/14]

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