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NewsUMW unit RM394mil contract extended
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UMW unit RM394mil contract extended
by hlk Wed 24 Apr 2013, 08:55
KUALA LUMPUR: UMW Holdings Bhd's unit UMW JDC Drilling Sdn Bhd has received a contract extension from Petronas Carigali Sdn Bhd worth US$130mil (RM394mil).
UMW JDC is a 85%-owned subsidiary of UMW Corp Sdn Bhd, which in turn is a wholly-owned subsidiary of UMW.
UMW
told Bursa Malaysia that the extension of the contract for the
provision of the semi-submersible drilling rig “NAGA 1” for Petronas
Carigali drilling programme.
It explained the current contract is for five years and started on Nov 13, 2010 and ends on Nov 12, 2015.
During the period, upgrading works were carried out on the rig for 281 days from April 13, 2012 until Jan 18, 2013.
“In
view of this, the current contract expiry date is therefore extended to
19th August 2016, which represents an additional 281 days, as per the
duration of the rig upgrading works,” it said.
In addition,
Petronas Carigali then awarded UMW JDC Drilling with a contract
extension for another two years, starting Aug 20, 2016. The estimated
contract value was US$130mil.
UMW JDC is a 85%-owned subsidiary of UMW Corp Sdn Bhd, which in turn is a wholly-owned subsidiary of UMW.
UMW
told Bursa Malaysia that the extension of the contract for the
provision of the semi-submersible drilling rig “NAGA 1” for Petronas
Carigali drilling programme.
It explained the current contract is for five years and started on Nov 13, 2010 and ends on Nov 12, 2015.
During the period, upgrading works were carried out on the rig for 281 days from April 13, 2012 until Jan 18, 2013.
“In
view of this, the current contract expiry date is therefore extended to
19th August 2016, which represents an additional 281 days, as per the
duration of the rig upgrading works,” it said.
In addition,
Petronas Carigali then awarded UMW JDC Drilling with a contract
extension for another two years, starting Aug 20, 2016. The estimated
contract value was US$130mil.
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