<div class=newsTextDataWrapInner><p>This article first appeared in <em>The Edge Financial Daily</em>, on November 24, 2015.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>KUALA LUMPUR: UMW Oil &amp; Gas Corp Bhd (UMW-OG) has bagged a contract from SapuraKencana Petroleum Bhd to provide a jack-up drilling rig and associated services.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The value of the contract was not disclosed.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia yesterday, UMW-OG said UMW Offshore Drilling Sdn Bhd, a wholly-owned subsidiary of UMW Malaysian Ventures Sdn Bhd, which in turn is a wholly-owned unit of UMW-OG, had received a letter of award from SapuraKencana Energy Peninsula Malaysia Inc, SapuraKencana Energy Sarawak Inc and SapuraKencana Energy Sabah Inc for the contract.</p></div>

<div class=newsTextDataWrapInner><p>UMW-OG has assigned its latest rig, UMW Naga 8, for this contract, which is for up to 18 wells with an extension option for three additional wells. The contract commenced on Sept 28.</p></div>

<div class=newsTextDataWrapInner><p>“The provision of the drilling rig services is expected to contribute positively to the earnings and net assets of [the] UMW-OG group for the financial years ending Dec 31, 2015, 2016 and 2017,” it said.</p></div>

<div class=newsTextDataWrapInner><p>UMW-OG shares fell one sen or 0.85% to close at RM1.16 yesterday, with a market capitalisation of RM2.53 billion.</p></div>


This article first appeared in The Edge Financial Daily, on November 24, 2015.

 

KUALA LUMPUR: UMW Oil & Gas Corp Bhd (UMW-OG) has bagged a contract from SapuraKencana Petroleum Bhd to provide a jack-up drilling rig and associated services.

The valu...

UMW-OG secures SapuraKencana‘s rig service contract

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