KUALA LUMPUR, 28 DECEMBER 2014 - UMW Oil & Gas Corporation Berhad (UMW-OG) has been awarded a contract with PetroVietnam Drilling & Well Services Corporation (PVD) for end-client Korea National Oil Corporation (KNOC), for the Provision of Drilling Rig Services for KNOC Drilling Campaign at Block 11-2. Block 11-2 is located 320km offshore Vietnam.  UMW-OG’s jack-up drilling rig, UMW NAGA 5 will be deployed for this contract after completion of its current contract with PTTEP International Limited (PTTEP) in Myanmar. Prior to this, UMW NAGA 5 completed another contract in the Philippines for Nido Petroleum Limited. This new contract in Vietnam marked the third country penetrated by UMW NAGA 5, in line with UMW-OG’s focus on expanding its international market coverage. Commenting on the award, President of UMW-OG, Rohaizad Darus said, “The award of the contract not only further strengthens our market in Vietnam but is also an indication of our ability to secure contracts during challenging times. The fact that the day rates for this contract remains about the same as our other previous contracts in Vietnam despite current industry situation, reflects the trust that our customers have in our ability to deliver good services." The contract is for two (2) firm wells, worth approximately US$18.7 million. UMW NAGA 5 is expected to be mobilised and commence operations in June 2015 for an estimated 100 days. KNOC is sole operator and carries out exploration, development and production activities in Block 11-2. KNOC holds 75% participating interest in this block on behalf of itself and a Korean Consortium which consists of LG International Corp., Daesung Industrial Com., Daewoo International Corp., Hyundai Corp., Samwhan Corp., and Seoul City Gas Co. Ltd. PetroVietnam Exploration and Production Company (PVEP) also holds 25% participating interest in Block 11-2.