UMW secures PetroVietnam Job 

Ho Chi Minh, 21 Mar 2013 - UMW Standard Drilling Sdn. Bhd. (UMWSD), a wholly-owned unit under UMW Holdings Berhad has secured a contract from PetroVietnam Drilling & Well Services Corporation (PV Drilling) for the provision of jack-up drilling rig and services. 

The contract was signed yesterday in Ho Chi Minh City, Vietnam. Rohaizad Darus, President of UMW Oil & Gas Corporation Sdn. Bhd. signed on behalf of UMWSD, while PV Drilling was represented by its President & CEO, Pham Tien Dung. 

Provisions in the contract include UMW's jack-up drilling rigs, Naga 2 and related drilling services to PV Drilling to drill wells for the end client, Hoang Long Joint Operating Company. 

The UMWSD - PV Drilling contract is for a duration of six (6) months with an option for another six (6) months.

Rohaizad said, "We thank our new client PetroVietnam Drilling & Well Services Corporation for their trust in our ability and our asset and we hope to build a long term relationship with them in Vietnam". 

Now that the contract has been secured, the jack-up drilling rig, NAGA 2 will be moved and is expected to be in Vietnam waters in May, after completing its contract in Indonesia with Hess (Indonesia-Pangkah) Limited, expected to end in April. 

Rohaizad added, "This contract marks another milestone in our forays outside Malaysia, particularly in the Asia Pacific region. We will be completing our current drilling campaign in Indonesia soon and I believe our international operational experience there will be handy for our upcoming operations in Vietnam." 

NAGA 2 is a premium independent-leg cantilever jack-up rig that has a drilling depth capability of 30,000 feet and has a rated operating water depth of 350 feet.