UMW Off­shore Drilling se­cures con­tract from Ophir Pro­duc­tion

The Sun (Malaysia) - - SUNBIZ -

PE­TAL­ING JAYA: UMW Oil & Gas Corp Bhd’s (UMW-OG) sub­sub­sidiary UMW Off­shore Drilling Sdn Bhd (UOD) has re­ceived a letter of award from Ophir Pro­duc­tion Sdn Bhd (OPSB) for the pro­vi­sion of a jack-up drilling rig and ser­vices for the Ophir Field, Tereng­ganu, Malaysia. The value of the con­tract was not re­vealed.

The con­tract is for the pro­vi­sion of drilling rig ser­vices for Ophir’s Drilling Pro­gramme, whereby UMW-OG Group will as­sign its UMW NAGA 2 for this con­tract. The con­tract is to drill three firm wells for a min­i­mum du­ra­tion of 50 days, com­menc­ing in the sec­ond quar­ter of 2017.

UMW NAGA 2 is a pre­mium in­de­pen­dent-leg can­tilever jack-up rig that has a drilling depth ca­pa­bil­ity of 30,000 feet and has a rated op­er­at­ing wa­ter depth of 350 feet.

UOD is prin­ci­pally in­volved in the off­shore drilling busi­ness and op­er­a­tions and other en­gi­neer­ing ser­vices for oil and gas ex­plo­ration, de­vel­op­ment and pro­duc­tion in Malaysia and over­seas.

The de­vel­op­ment and pro­duc­tion of the Ophir Oil Field was awarded by Petronas to OPSB in June 2014. OPSB is a joint ven­ture com­pany com­pris­ing Oc­tanex Pte Ltd (50%), Scomi D&P Sdn Bhd (30%) and Ves­tigo Pe­tro­leum Sdn Bhd (20%). The Ophir field is be­ing de­vel­oped by OPSB un­der a risk ser­vice con­tract (RSC).

“The pro­vi­sion of the drilling rig ser­vices is ex­pected to con­trib­ute pos­i­tively to the earn­ings and net as­sets of UMW-OG Group.

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