UMW Oil & Gas recent deals worth just $7m

UMW Oil & Gas (UMW-OG) has finally declared the value of two recent small contracts awarded to its UMW Offshore Drilling unit earlier this month.

The oil and gas contractor said in a stock market announcement that the two projects are worth a total of about MYR32.9m ($7.4m).

The contracts, for the provision of drilling rig services for which it will deploy its jack-up rigs, were for a one-well job for Petronas Carigali's brownfield development unit Vestigo Petroleum worth about MYR8.9m and a two-well plus options deal with Petrofac (Malaysia-PM304) for about MYR24m.

Posted 20 March 2017

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Vincent Wee

Hong Kong and SE Asia Correspondent, Seatrade Maritime News

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