UMW to expand rig fleet

Kuala Lumpur: Malaysia's UMW Oil & Gas plans to expand its drilling rig fleet with around $300m capital expenditure this year.

"We're in need of increasing our assets now especially in drilling rigs. All our rigs have been already contracted out, about 94% of UMW revenue came from drilling rigs.” Rohaizad Darus, president of the company said to a local media.

Meanwhile, the company is also in the bidding process for over RM3bn contracts. [27/01/14]

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