KUALA LUMPUR: UMW Holdings Bhd will invest about US$90mil for Naga 3, a new generation jack-up drilling rig, which is slated for completion in 2009.
Group managing director and chief executive officer Datuk Dr Halim Harun said the joint-venture partner for Naga 3 would be Norway-based Standard Drilling ASA, which in turn was a partner in UMW Group's Naga 2 jack-up rig currently under construction in Batam, Indonesia at a total cost of US$176.5mil.
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