KUALA LUMPUR: UMW Oil & Gas Corporation Bhd via UMW Offshore Drilling Sdn Bhd has secured a US$6.8 million (about RM27.82 million) contract for the provision of a jack-up drilling rig for ConocoPhillips Sarawak Ltd (COPSK) . UMW Offshore Drilling is a wholly-owned subsidiary of UMW Malaysian Ventures Sdn Bhd, which is in turn a wholly-owned subsidiary of UMW Oil & Gas Corporation. UMW Oil & Gas Corporation will assign the UMW NAGA 4 for this Contract. It is a premium independent-leg cantilever jack-up drilling rig that has a drilling depth capability of 30,000 feet and has a rated operating water depth of 400 feet. The contract is expected to contribute positively to the earnings and net assets of UMW Oil & Gas Corporation for the financial year ending Dec 31, 2018.

Source: New Strait Times December 04, 2017 11:48 UTC