UMW Offshore Drilling secures contract from Ophir Production

PETALING JAYA: UMW Oil & Gas Corp Bhd’s (UMW-OG) sub-subsidiary UMW Offshore Drilling Sdn Bhd (UOD) has received a letter of award from Ophir Production Sdn Bhd (OPSB) for the provision of a jack-up drilling rig and services for the Ophir Field, Terengganu, Malaysia. The value of the contract was not revealed.

The contract is for the provision of drilling rig services for Ophir’s Drilling Programme, whereby UMW-OG Group will assign its UMW NAGA 2 for this contract. The contract is to drill three firm wells for a minimum duration of 50 days, commencing in the second quarter of 2017.

UMW NAGA 2 is a premium independent-leg cantilever jack-up rig that has a drilling depth capability of 30,000 feet and has a rated operating water depth of 350 feet.

UOD is principally involved in the offshore drilling business and operations and other engineering services for oil and gas exploration, development and production in Malaysia and overseas.

The development and production of the Ophir Oil Field was awarded by Petronas to OPSB in June 2014. OPSB is a joint venture company comprising Octanex Pte Ltd (50%), Scomi D&P Sdn Bhd (30%) and Vestigo Petroleum Sdn Bhd (20%). The Ophir field is being developed by OPSB under a risk service contract (RSC).

“The provision of the drilling rig services is expected to contribute positively to the earnings and net assets of UMW-OG Group.