UMW Group has received confirmation from Petronas Carigali Sdn Bhd (PCSB) for the execution of the provision of the Jack-up Drilling Rig "NAGA 3" contract, for the Petronas Carigali Drilling Programme.
The confirmation was received by UMW's unit, UMW Standard Drilling Sdn Bhd (UMWSD).
Under the contract, UMW said UMWSD would provide its expertise, equipment, materials, consumables and personnel required to perform the operation of the drilling programme for one year, from the Letter of Award, which was dated Jan 21,2011 with two one-year extension options.
The contract, worth approximately US$41.5 million (US$1 = RM2.9930), is expected to contribute positively to the earnings and net assets of UMW for the financial year ending Dec 31, 2011, and beyond, it said in a filing to Bursa Malaysia today. -- Bernama
