UMW Naga 5 is a premium independent-leg cantilever jack-up drilling rig, which has a drilling depth capability of 30,000 ft and a rated operating water depth of 400 ft.
London-listed Petrofac owns a 30% equity share in and is the operator of PM304 block offshore Peninsular Malaysia. Its joint-venture partners are Petronas Carigali Sdn Bhd, Kuwait Foreign Petroleum Exploration Company and PetroVietnam Exploration Production Corp Ltd.
“The provision of the abovementioned drilling rig services is expected to contribute positively to the earnings and net assets of the UMW-OG group during the contract period for the financial period ending Dec 31, 2017,” it said.
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