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UMW nails $24m jack up rig charter deal

UMW nails $24m jack up rig charter deal
UMW Holdings has won a contract worth about $24m to supply a jack up drilling rig to Japan Vietnam Petroleum Company (JVPC).

UMW Standard Drilling Sdn Bhd, a unit of the soon-to-be-listed UMW Oil & Gas Corp Bhd, will supply the jack up drilling rig, NAGA 3 for JVPC to drill two wells, with an option to drill an additional two wells, offshore Vietnam.

The contract will commence after the completion of the unit's current contract with Petronas Carigali Sdn Bhd, and is expected to be mobilised to work on the JVPC contract in the first half of next year, the company said in a stock exchange filing.

Meanwhile in another announcement,Perisai Petroleum Teknologi said the two-year charter contract of its Mobile Offshore Production Unit, the Rubicone to Gryphon Energy (M) Sdn Bhd would expire by the end of September 2013.

Planning for the demobilisation of the Rubicone has commenced, Perisai said and the company is looking at available options for other employment of the Rubicone.