UOD bags con­tracts val­ued at US$34.8m from Petronas Cari­gali

New Straits Times - - Business - UMW Oil & Gas Corp Bhd

KUALA LUMPUR: UMW Off­shore Drilling Sdn Bhd (UOD) has bagged pro­vi­sion con­tracts from Petronas Cari­gali Sdn Bhd worth US$34.81 mil­lion (RM151.08 mil­lion).

UOD is a whol­ly­owned sub­sidiary of UMW Malaysian Ven­tures Sdn Bhd, which in turn is a wholly-owned unit of UMW Oil & Gas Corp Bhd (UMWOG).

In a fil­ing to Bursa Malaysia yes­ter­day, UMW-OG said one of the con­tracts was for the pro­vi­sion of drilling rig ser­vices for Petronas Cari­gali’s drilling pro­gramme, whereby UMW Naga 3 would be as­signed for this job.

“The con­tract is to drill five firm wells, with the op­tion of drilling ad­di­tional 1+1+1+1+1+1 well, com­menc­ing next month,” said UMW-OG.

Another con­tract, which would be as­signed to UMW Naga 4, was for the pro­vi­sion of drilling rig ser­vices for the same pro­gramme that in­volved two firm wells with the op­tion of drilling ad­di­tional 1+1+1 well, it said.

UOD said the pro­vi­sion work would com­mence next month.

Both UMW Naga 3 and UMW Naga 4 are premium in­de­pen­dent-leg can­tilever jack-up drilling rigs that have drilling depth ca­pa­bil­ity of 9,144m with a rated op­er­at­ing wa­ter depth of 107m and 122m, re­spec­tively.

The group be­lieved the con­tracts would pos­i­tively con­trib­ute to its earn­ings and net as­sets dur­ing the cur­rent fi­nan­cial year end­ing De­cem­ber 31 this year and the fi­nan­cial pe­riod there­after for the du­ra­tion that ex­tends beyond De­cem­ber 31. Ber­nama

The con­tract is to drill five firm wells, with the op­tion of drilling ad­di­tional 1+1+1+1+1+1 well, com­menc­ing next month.

One of the con­tracts won by UMW Off­shore Drilling Sdn Bhd is for the pro­vi­sion of drilling rig ser­vices for Petronas Cari­gali Sdn Bhd’s drilling pro­gramme.

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