President of UMW-OG, Rohaizad Darus said, “While there were some concerns within the industry on late delivery from Chinese shipyards, UMW Naga 6 was delivered on schedule and within cost. The shipyard and our experienced project team worked closely together to ensure not only the rig is completed on schedule but also to incorporate operational requirements of our clients into this new rig to enable it to operate more efficiently."

UMW NAGA 6 is a CJ-46 class cantilevered jack-up drilling rig with the capacity to operate in 375 feet of water depth and to a drilling depth of 30,000 feet. In addition, it is also equipped with additional equipment such as an automatic offline pipe racking system to further improve the efficiency of its drilling operations. The rig will be going to Vietnam immediately after delivery to serve the recently awarded contract from PetroVietnam Drilling & Well Services Corporation (PV Drilling) for end clients PC Vietnam Limited and Petronas Carigali Oversas Sdn Bhd. The contract is valued at USD46.5 million, and is tasked for operations in the Diamond field in offshore Vietnam, for a period of 250 days, with options for up to additional 327 days.

It has been a year of consecutive successes for UMW-OG as the company have recorded significant increase in profitability while pursuing the expansion of their fleet size. The Company has also been making steady inroads into regional markets around South-east Asia and UMW NAGA 7, which is currently under construction, was recently awarded a contract by Frontier Oil Corporation for the provision of drilling services in offshore Palawan, Philippines. The award of these new contracts is a testament to the Company’s ability to secure contracts, while diversifying its client base and geographical coverage. All seven of their current drilling rigs have secured contracts, with six rigs currently contracted overseas and only one rig in Malaysia. Besides servicing other established international clients in Phillipines, Thailand and Indonesia, UMWOG continues to provide drilling services to its main client Petronas in three different countries; Malaysia, Vietnam and Myanmar.

Rohaizad further added, “The delivery of UMW NAGA 6 will provide us with an additional asset to further accelerate our growth and facilitate the execution of our three-pronged marketing strategy which is to increase the number of international clients, to penetrate more countries in Asia Pacific and Middle East, and to follow existing clients in their overseas operations. For example, in addition to UMW NAGA 6 servicing Petronas Carigali in their Vietnam operation, UMW NAGA 5 and UMW GAIT 6 are currently servicing PTTEP Thailand in their Myanmar operation."

UMW-OG has shown strong asset and operational growth in the past year, making considerable progress towards their goal of becoming an influential player in the global energy industry. Helmed by an experienced and highly skilled management team and backed by strong shareholders, the Company is focused on diversifying their revenue streams, to provide a wider platform for their plans for global expansion.