KUALA LUMPUR: UMW HOLDINGS BHD [] has secured a US$183.12 million (RM578.91 million) contract from HESS (Indonesia-Pangkah) Ltd for the provision of its NAGA 2 rig and drilling services.
In a filing to Bursa Malaysia Securities on Tuesday, Aug 17, UMW said the provision of the NAGA 2 Jack-Up drilling rig and drilling services for the Pangkah WHP-B Development Drilling Programme in the Ujung Pangkah Field located in the Pangkah PSC-Offshore, East Java.
It said the contract shall consist of seven firm wells and 13 option wells.
"The contract agreement in respect of the above is expected to be signed before the end of August 2010. An announcement will be duly made upon execution of this contract," it said.
UMW said the contract was for a period of 1,355 days and was expected to contribute positively to its earnings for the financial year ending Dec 31, 2010 and beyond.
In a filing to Bursa Malaysia Securities on Tuesday, Aug 17, UMW said the provision of the NAGA 2 Jack-Up drilling rig and drilling services for the Pangkah WHP-B Development Drilling Programme in the Ujung Pangkah Field located in the Pangkah PSC-Offshore, East Java.
It said the contract shall consist of seven firm wells and 13 option wells.
"The contract agreement in respect of the above is expected to be signed before the end of August 2010. An announcement will be duly made upon execution of this contract," it said.
UMW said the contract was for a period of 1,355 days and was expected to contribute positively to its earnings for the financial year ending Dec 31, 2010 and beyond.
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