UMW Oil & Gas latest rig gets contract from NIDO Philippines 

KUALA LUMPUR, 18 December 2013 - UMW Standard Drilling Sdn Bhd ("UMWSD"), a wholly owned subsidiary of UMW Oil & Gas Corporation Berhad has entered into a contract on 9 December 2013 with Nido Petroleum Philippines Pty Ltd ("NIDO") for the provision of a jack-up drilling rig to drill the Baragatan prospect on behalf of the SC 63 Joint Venture.

The work is expected to commence in June 2014 utilizing UMW-OG's latest premium jack-up drilling rig, "UMW NAGA 5", for a duration of approximately six weeks with contract valued at approximately USD 7 million.

"This first assignment for UMW-OG's newly built jack-up rig confirms our strong belief in an increasing demand for modern, high capability jack-up drilling rigs in this region. The award of this contract opens up yet another market for us to penetrate in the growing Asia-Pacific region and is in line with our regional expansion plans. I hope we can secure more contracts in the Philippines and the rest of Asia-Pacific in the near future", says Rohaizad Darus, President of UMW Oil & Gas Corporation Berhad.

"UMW NAGA 5" is a newly built premium jack-up drilling rig that is currently being constructed by KeppelFELS Singapore. The premium drilling rig is capable of operating in water depths of up to four hundred (400) feet (approximately 125 metres) and drilling to a total depth of thirty thousand (30,000) feet (approximately 9,144 metres) sub-sea.

NIDO is a subsidiary of Nido Petroleum Limited, which is listed on the Australia Stock Exchange.

UMW Oil & Gas Corporation Berhad currently has a fleet of five offshore drilling rigs and has been carrying out offshore drilling activities since 2005.