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UMW gets 4-month extension for NAGA 2

UMW Oil & Gas Corporation (UMW-OG) is on a roll, with its existing Naga 2 jackup rig contract with Petrovietnam Drilling and Well Services Corporation (PV Drilling) extended for another four months.

Vincent Wee, Hong Kong and South East Asia Correspondent

December 13, 2013

1 Min Read
Kalyakan - stock.adobe.com

UMW-OG said in a stock market announcement that the extension was valued at US$19m with an option for another five months. Operations are expected to start in June 2014.

The contract is for the provision of one of UMW's NAGA 2 jackup drilling rig, and related drilling services to PV Drilling to drill wells for end client, Hoang Long Joint Operating Company.

NAGA 2 is an MSC CJ46 independent-leg cantilever jack-up rig that has a drilling depth capability of 30,000 feet and a rated operating water depth of 350 feet which is operating in Vietnam waters.

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Malaysia

About the Author

Vincent Wee

Hong Kong and South East Asia Correspondent

Vincent Wee is Seatrade's Hong Kong correspondent covering Hong Kong and South China while also making use of his Malay language skills to cover the Malaysia and Indonesia markets. He has gained a keen insight and extensive knowledge of the offshore oil and gas markets gleaned while covering major rig builders and offshore supply vessel providers.

Vincent has been a journalist for over 15 years, spending the bulk of his career with Singapore's biggest business daily the Business Times, and covering shipping and logistics since 2007. Prior to that he spent several years working for Brunei's main English language daily as well as various other trade publications.

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