UMW-OG bags RM151m contracts from Petronas Carigali

CIMB Research said demand for jack-up rigs in Asean has more than halved since 2014

KUALA LUMPUR: UMW Oil & Gas Corporation Bhd (UMW-OG) has received two contracts from Petronas Carigali Sdn Bhd worth US$34.81mil or RM151.07mil to provide services to its firm and optional wells.

UMW-OG said on Monday the contracts are to provide jack-up drilling rig services.

It said the first contract is to provide drilling rig services for Petronas Carigali’s drilling programme, whereby UMW-OG will assign its UMW Naga 3 for this contract. 

The contract is to drill five firm wells with the option of drilling additional five wells, starting in June 2017.  

UMW Naga 3 is an independent-leg cantilever jack-up drilling rig that has a drilling depth capability of 30,000 feet and has a rated operating water depth of 350 feet.

The second contract is also to provide drilling rig services for Petronas Carigali’s drilling programme. 

UMW-OG will assign its UMW Naga 4 for this contract to drill two firm wells with the option of drilling additional three wells, starting in June 2017.

UMW Naga 4 has a drilling depth capability of 30,000 feet and has a rated operating water depth of 400 feet.