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UMW Oil & Gas picks up $26m rig contract

UMW Oil & Gas picks up $26m rig contract
UMW Oil & Gas (UMW-OG) is slowly getting some reprieve, winning a MYR113m ($26.4m) rig contract with from Repsol.

The firm said in a stock market announcement that it had won the one-year plus one-year option contract from Repsol Oil & Gas Malaysia  through its UMW Offshore Drilling unit. 

The contract for the provision of drilling rig services for Repsol’s drilling programme, will be fulfilled by its UMW NAGA 5 jack-up rig and the work is expected to commence in the middle of September 2017, UMW-OG said.