Tuesday, October 5, 2010

UMW Holdings Berhad : Naga 1 Gets Extended - 05/10/2010

♦ Naga One contract gets extended. The company announced yesterday
that its 85%-owned Naga One Semisubmersible rig (semisub) contract with
Petronas Carigali S/B (PSCB) has been extended for another 5 years at a
total contract value of US$250m (RM770m). The previous contract (signed
in Jun-06) for twenty firm wells is expected to be completed by end of
2010, while the new one has yet to stipulate the number of new wells.

UMW Holdings Berhad : Naga 1 Gets Extended - 05/10/2010

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