The company said in a stock market announcement that it will use its UMW NAGA 2 to fulfill the contract, which is to drill three wells for a minimum duration of fifty days, commencing in second quarter of 2017. Contract value was not disclosed.
The contract was awarded by Ophir Production, a joint venture between Octanex, Scomi D&P and Vestigo Petroleum, the small and marginal field development unit of national oil company Petronas. The development and production of the Ophir Oil Field was awarded by Petronas to Ophir Production in June 2014, and is being developed by under a Risk Service Contract (RSC).
UMW-OG said the contract is expected to contribute positively to the earnings and net assets of the group for the financial period ending 31 December 2017.
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