UMW confident of another contract for it's oil rig

PETALING JAYA: UMW Holdings Bhd is confident of securing a new contract for its jack-up drilling rig, Naga 2, to replace the US$170mil contract that was terminated by PCPP Operating Co Sdn Bhd recently, said president and chief executive officer Datuk Abdul Halim Harun.

“We are not worried at all. We have now reverted to Plan B – to look for other alternatives – and are talking to other parties, local and foreign oil majors, about Naga 2.