UMW secures jackup rig contracts from Petronas

UMW secures jackup rig contracts from Petronas

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.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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