UMW-OG provides jack-up drilling rig to Petronas
- Business & Finance
Malaysian company UMW Oil & Gas will provide a jack-up drilling rig to its compatriot oil and gas major Petronas.
The jack-up rig assigned for the contract is UMW Naga 7. It will be provided by UMW Offshore Drilling Sdn Bhd, a subsidiary of UMW-OG-owned UMW Malaysian Ventures Sdn Bhd.
According to the UMW-OG’s statement from Wednesday, the rig has been contracted for drilling seven firm wells with an extension option for one plus one well.
The estimated duration for the contract is a minimum of 7 months, one month for each well. The contract started on October 15, 2015.
UMW Naga 7 jack-up rig has a drilling depth capability of 30,000 feet, and a rated operating water depth of 375 feet.
The rig was built by Chinese CHMI shipyard in Shenzhen, and it was delivered to UMW-OG in January 2015. The rig’s first work was offshore Phillippines, as it was hired by Frontier Oil Corporation while it was still under construction.