UMW secures contract for newbuild jackup 'UMW Naga 6'

UMW Oil & Gas Corporation Berhad (UMW-OG) has announced that the company’s wholly owned subsidiary UMW Offshore Drilling Sdn Bhd, has received a Letter of Award from Petrovietnam Drilling & Well Services Corporation (PV Drilling) for a contract for the provision of a Jack-Up Drilling Rig and associated services for the end clients, PC Vietnam Limited and PETRONAS Carigali Overseas Sdn Bhd. The Contract, with an estimated contract value of USD46.5 million for the firm contract period, is for the provision of Drilling Rig Services for Drilling Campaigns for Vietnam Operations, whereby UMW-OG Group will assign its newest rig, ‘UMW Naga 6’ for this contract. The Contract is for four firm wells (approximately 250 days), with three optional wells (estimated 55 days) and thereafter, an Extension Option of 3 wells (estimated at 277 days). The commencement of the contract is expected to take place in early October 2014 immediately upon UMW-OG Group taking delivery of the new rig – ‘UMW Naga 6’, later this month. ‘UMW Naga 6’ is currently under construction by China Merchants Industry Holdings Co. Ltd, at the shipyard located in Shenzen, Mazhou Island, China. ‘UMW Naga 6’ 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 375 feet.

Frontier confirms contract for 'UMW Naga 7'

Frontier Oil Corp. will drill two wells in the Calauit oil field off northwest Palawan in the first quarter of next year after signing a USD20 million deal to tap the services of Malaysia’s UMW Offshore Drilling Sdn. Bhd. Frontier president Kristoffer Fellowes said the company had the flexibility to use the ‘UMW NAGA 7’ jack-up rig in other areas within the Philippines, making it an extremely valuable contract to the company. The newly-built ‘UMW NAGA 7’ jack-up rig is capable of drilling to 375 feet of water depth and a total depth of 30,000 feet. Fellowes said the contract covered a period of 120 days, with an option to extend for another 180 days. The ‘UMW Naga 7’ contract, according to Fellowes, was a “game changer” for Frontier. “We are now on the cusp of becoming a producer, an outcome that will catapult us into a period of rapid growth. The company couldn’t be happier,” Fellowes said. UMW Offshore is a wholly-owned subsidiary within UMW Oil & Gas Corp. Berhad.

UMW takes delivery of newbuild 'UMW Naga 6' jackup

UMW OIL & GAS CORPORATION BERHAD (UMW-OG) today took delivery of ‘UMW NAGA 6’, the first of its two jack-up drilling rig constructed by China Merchants Heavy Industries (CMHI). The official delivery ceremony was conducted at the shipyard in Shenzen and was attended by senior representatives from both companies. The other rig, also being built at the same yard, ‘UMW NAGA 7’ is scheduled to be delivered in December 2014. 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.

UMW takes delivery of newbuild 'UMW Naga 8' jackup

UMW Oil & Gas Corporation Berhad (UMW-OG) officially took delivery of its latest jack-up rig; UMW NAGA 8 from Keppel FELS Limited (Keppel FELS), a subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M). Designed to address higher requirement market, UMW NAGA 8 is the third KFELS B Class jack-up rig in UMW-OG’s fleet; the first two being UMW NAGA 4 and UMW NAGA 5, which were delivered in 2013 and 2014, respectively. Similar to both its predecessors, UMW NAGA 8 is a premium jack-up drilling rig capable of operating in water depths of up to 400 feet (approximately 125 metres) and drilling to a total depth of 30,000 feet (approximately 9,144 metres) sub-sea. Equipped with the newest and most technologically advanced equipment, additional features include an advanced and fully-automated high capacity rack and pinion elevating system, self-positioning fixation system and facilities capable of accommodating 150 personnels. Present to receive the rig at Keppel FELS’s yard was Rohaizad Darus, President, UMW-OG, who shared, “At 400 feet water depth, this latest rig will enable us to address a niche market where there is lesser competition. The additional asset will also provide us with the capacity to cover a wider market, both regionally and globally to continue our growth once the market recovers.” UMW NAGA 8 is currently being prepared to be mobilised for a potential client in Southeast Asia.

Octanex Awaiting Naga 2

Octanex has announced that it expects the Naga 2 jackup to be handed over from its previous contract with Vestigo between the third and fourth week of May 2017. Following handover, the rig will be towed to the Ophir field offshore Malaysia where it will complete a three well development drilling programme. The first well is expected to spud towards the end of May.

Naga 2 Spuds Ophir Wells

Octanex has spudded the first of the three planned production well son the Ophir development, offshore Malaysia. Ophir A1 was spudded by UMW Naga 2 on June 2nd. THe Ophie field will be developed via three production wells, a well head platform and an FPSO.

Standard Drilling sells off last rig

Standard Drilling announced that the company has entered into an agreement to sell the last company's last jackup rig to UMW Oil & Gas of Malaysia. UMW will pay Standard US$223 million for the asset which is still under construction at Keppel FELS in Singapore and due for delivery in Q2 2014, with the transaction expected to be completed on June 10th 2013.

Nido Petroleum secure 'UMW Naga 5' jackup for Philippines drilling

Nido Petroleum Limited (Nido) has agreed a contract with UMW Standard Drilling (UMW) to contract UMW’s currently under construction ‘UMW Naga 5’ jackup drilling rig. Nido has contracted the ‘UMW Naga 5’ for a six week period from the beginning of June 2014 for drilling operations in the Philippines, including the drilling of the Baragatan prospect. The ‘UMW Naga 5’ jackup is currently under construction in Singapore and is due to be delivered in early May 2014 after which it will be mobilised to the Philippines for its contract with Nido. When delivered the ‘UMW Naga 5’ will be the fourth jackup rig in UMW’s drilling fleet following the delivery of the ‘UMW Naga 4’ jackup in February 2013 which is currently working in Malaysia for Petronas.

Keppel secures repeat contract from UMW to construct jackup rig

Keppel FELS Limited (Keppel FELS), a subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has secured a contract from UMW Drilling 8 (L) Ltd, a wholly-owned subsidiary of UMW Oil & Gas Corporation Sdn. Bhd. (UMW Oil & Gas), to construct a KFELS B Class jackup rig worth US$218 million. Once delivered it will be the third KFELS B Class jackup rig built for UMW Oil & Gas and is scheduled for delivery in Q3 2015. The first jackup - 'UMW NAGA 4' - was delivered in February 2013 and the second - 'UMW NAGA 5' - is expected to be completed by Q2 2014. Mr Rohaizad Darus, President, UMW Oil & Gas said, "The KFELS B Class rigs are efficient drilling platforms with industry-leading features and have been well-received by the market. Our first jackup constructed by Keppel FELS, 'UMW NAGA 4', is currently deployed in offshore Malaysia while our second rig, 'UMW NAGA 5', is expected to be delivered in May this year and has already secured a charter from Nido Petroleum Philippines. "We have taken this opportunity to acquire another KFELS B Class jackup from Keppel FELS to enable UMW Oil & Gas to accelerate the growth of our assets portfolio and meet the strong demand for premium jackup drilling rigs in the Asia Pacific region. Keppel FELS has been a good partner for us in delivering high quality rigs on time and without incidents. Teaming up with the world's leading rig builder is a boost to our aim of being Malaysia's premier drilling contractor." The new rig is the 75th KFELS B Class ordered since 2000.

UMW completes purchase of two newbuild jackup rigs

UMW Standard Drilling Sdn Bhd (UMW) has signed a sale and purchase agreement with Tianjin Haiheng Shipbuilding & Offshore Engineering Service Co (Tianjin) for two jackup drilling rigs that are currently under construction. The two units are believed to be the ‘Haiheng 2’ and ‘Haiheng 3’ jackup rigs that Tianjin has under construction at China Merchants Industries shipyard on Mazou Island in China. UMW has purchased the two jackups for a total price of US$434 million and both units are expected to be delivered in 2014. UMW plans to market the units in South East Asia upon their delivery from the shipyard.

Nido releases Baragatan-1 well update

Nido Petroleum Limited (Nido) has advised that the first stage of the farm-out process for the company’s interest in Service Contract 63 is currently in process with Dragon Oil Plc. The farm out process involves the transfer of a 40% participating interest in the service contract and has been approved by the Philippines department of energy. Nido has also announced that preparations for the spudding of the Baragatan-1 exploration well are now in the final stages, with drilling set to commence once the ‘UMW Naga 5’ has been mobilised to the well location from Singapore.

'UMW Naga 5' jackup begins mobilisation to Philippines

Nido Petroleum Limited (Nido) on behalf of the Service Contract 63 (SC 63) joint venture partners; Nido Petroleum Philippines Pty Ltd, PNOC-Exploration Corporation and Dragon Oil Plc, is pleased to announce that the ‘UMW Naga 5’ jackup rig commenced mobilisation from Singapore to the Baragatan location in SC 63, on the 2nd May 2014. The unit commenced its mobilisation to the Philippines drilling location at 6.15pm AEST and Nido will update the market once the rig arrives at its location, which is anticipated to take 12 days.

Fairmount Expedition tows 'Naga 3' jackup to shipyard

Tug Fairmount Expedition has towed jack-up rig ‘Naga 3’ safely from Labuan, Malaysia, to the PV Marine Shipyard in Vung Tau, Vietnam. The Fairmount Expedition was mobilised from Singapore for this 575 miles voyage. During the voyage the Fairmount Expedition only made use of two of her four main engines. The ‘Naga 3‘is a Gusto MSC CJ46-X100-D design jack-up rig, built in 2010 by Dubai Drydocks World and owned by UMW Petropipe/Singapore Drilling. The 70 meters long rig can drill up to 9,144 meters in depth. At the Vung Tau shipyard the ‘Naga 3’ will be prepared for her next job offshore Vietnam for the Japan Vietnam Petroleum Company.

Fairmount Expedition Towed Naga 3 to Vietnam

Tug Fairmount Expedition has towed jack-up rig Naga 3 safely from Labuan, Malaysia, to the PV Marine Shipyard in Vung Tau, Vietnam. The Fairmount Expedition was mobilized from Singapore for this 575 miles voyage. During the voyage the Fairmount Expedition only made use of two of her four main engines. At the Vung Tau shipyard the Naga 3 will be prepared for her next job offshore Vietnam for the Japan Vietnam Petroleum Company.

'UMW Naga 5' arrives at Philippines drilling location

Nido Petroleum Limited (“Nido” or the “Company”) is pleased to announce on behalf of the Service Contract 63 Joint Venture partners, PNOC-EC and Dragon Oil (Philippines SC 63) Limited, that the ‘UMW Naga 5’ jack-up rig arrived at the Baragatan-1 well location on 12th May 2014 following a ten day tow from Singapore as planned. The forward plan is to move the rig over the Baragatan-1 surface location and complete pre-loading activities ahead of spudding the well later in the week.

Keppel FELS delivers another jackup rig ahead of schedule

Keppel FELS Limited (Keppel FELS), a wholly owned-subsidiary of Keppel Offshore & Marine (Keppel O&M), has delivered the jackup rig UMW Naga 4 to UMW Oil & Gas Corporation Sdn. Bhd., a wholly-owned subsidiary of the UMW Group. It was completed five days ahead of schedule, on budget and with a perfect safety record. UMW Naga 4 is the fourth consecutive rig that Keppel FELS has delivered ahead of schedule this year. At the handover ceremony held on 16 February 2013 at Keppel FELS, Mr Chow Yew Yuen, Chief Operating Officer of Keppel O&M said, "In a year where Keppel FELS targets to deliver a record 20 rigs, we remain committed to every delivery to go beyond our customer's expectations and provide value-added services. We are continually innovating and improving our processes to increase productivity and safety." UMW Naga 4 is built to Keppel's proprietary KFELS B Class design which is today the industry standard for modern jackup rigs. With another 16 KFELS B Class/Super B Class rigs on order, it reflects the strong market demand for the design. Mr Chow added, "With a strong focus on technology, we work closely with customers to develop innovative and cost-effective solutions for today's market. We are glad to have new customer UMW choose the KFELS B Class as their preferred rig design. It is ideally suited to meet the current shortage of high specification rigs needed for shallow water fields and can be deployed in many parts of the world." Developed by Keppel's jackup rig design arm, Offshore Technology Development, the KFELS B Class rig is able to operate in water depths of up to 400 ft with a drilling depth of 30,000 ft. It incorporates Keppel's advanced and fully-automated high capacity rack and pinion elevating system and self-positioning fixation system. In 2009, the design received the Prestigious Engineering Achievement Award from the Institution of Engineers Singapore for its environmentally-friendly features.

Nido spuds Baragatan-1 well

Nido Petroleum Limited (Nido) is pleased to announce on behalf of SC 63 Joint Venture partners PNOC-EC and Dragon Oil (SC 63 Philippines) Limited that the ‘UMW Naga 5’ jack-up rig spudded the Baragatan-1 exploration well in Service Contract 63, offshore the Republic of the Philippines, at approximately 8.00 am WST 15th May 2014. The well, which is being operated by Nido Petroleum Philippines Pty Ltd, is currently drilling ahead in the 36” hole section prior to setting the 30” conductor as planned. Nido will provide further progress reports to the market at key casing points during the drilling of the well.

'UMW Naga 5' to re-spud Baragatan-1 well

Nido Petroleum (Nido) on behalf of the SC 63 joint venture partners PNOC-EC and Dragon Oil (SC 63 Philippines) has announced that the Bragatan-1 exploration which was spudded on the 15th May 2014 needs to be re-spudded. During the drilling of the 36” top-hole section the well encountered an unexpectedly unstable geological zone which precluded the setting of the 30” conductor pipe at the planned depth of 169.5m measured depth. The forward plan is to move the ‘UMW Naga 5’ rig approximately 100m for the current surface location and re-spud the well. Nido will provide further progress reports to the market at key casing points following the re-spudding of the well.

Nido spuds Baragatan-1A

Nido Petroleum Limited (Nido) on behalf of SC 63 Joint Venture partners PNOC-EC and Dragon Oil (SC 63 Philippines) Limited wishes to advise that the Baragatan-1A well was successfully spudded on 25th May 2014. The 30” conductor pipe was run to a depth of 173.3 metres Measured Depth and successfully set across the unstable geological zone. Following the setting of the 30” conductor the well will be drilled to the 13 3/8” casing point around 982 meters Measured Depth (950 meters TVD sub-sea). Nido will provide further progress reports to the market at key casing points during the drilling of the well. The Baragatan-1A well is being drilled using the ‘UMW Naga 5’ jackup.

Nido releases Baragatan-1A well update

Nido Petroleum Limited(Nido) on behalf of SC 63 Joint Venture partners PNOC-EC and Dragon Oil (Philippines SC 63) Limited wishes to advise that the Baragatan-1A well as at 23 June 2014 was preparing to drill ahead in 8 ½ “ hole at 2,329 meters Measured Depth (2,055.9 meters TVD sub-sea). Drilling progress since the 9 5/8” casing point has taken longer than predicted due to slow drilling of the Pagasa Formation claystone and elevated formation pressures. Nido expects to be at the primary reservoir objective in the next few days, based on forward drilling estimates. Nido wishes to further advise that during the drilling of the Pagasa Formation a gross interval from 1,977 - 2,004 meters Measured Depth (1,785 - 1,805 meters TVD sub-sea) comprising mainly sandstone and a gross interval from 2,207 – 2,236 meters Measured Depth (1,960 – 1,982 meters TVD sub-sea) comprising limestone contained elevated mud-log gas readings (C1 to C5) with oil shows recorded in the upper part of the limestone interval. It is unclear as to the significance or otherwise of these mud-log gas shows and this data will be considered for further evaluation once the primary reservoir objective has been drilled and the well has reached its planned Total Depth of 3,164 meters Measured Depth (2,700 meters TVD sub-sea).

Nido releases Baragatan-1A well update

Nido Petroleum Limited (Nido) on behalf of SC 63 Joint Venture partners PNOC-EC and Dragon Oil (Philippines SC 63) Limited wishes to advise that the Baragatan-1A well as at 2nd July 2014 was currently at 2,457 meters measured depth (2,152.9 meters TVD sub-sea). Since the previous well update released on the 23rd June 2014, continuing formation pressure and unstable well bore conditions in the e 8 ½” hole section required the setting of the 7” liner at 2,356 meters Measured Depth (2,109 meters TVD sub-sea). Following the successful setting of the 7” liner, stable hole conditions were established although drilling performance has been reduced in the 6” hole section. Current operation was changing the drill-bit before drilling ahead in 6” hole towards the primary reservoir objective.

Newbuild 'UMW Naga 7' jackup secures Philippines contract

UMW OIL & GAS CORPORATION BERHAD (UMW-OG) today announced that its wholly-owned subsidiary UMW Offshore Drilling Sdn Bhd (UOD) has received a Letter of Award (LOA) from Frontier Oil Corporation (FRONTIER) for provision of a jack-up rig and associated services in respect to the KJF-1 and KJF-2 Drilling Programme in the KJF Field SC50 Block (formerly Calauit Field), offshore Palawan in the Philippines. The contract will be utilising ‘UMW NAGA 7’, its new-build jack-up drilling rig from CHMI shipyard in Shenzhen, China. The contract is for a duration of 120 days with an option for an extension of a further 180 days and is planned to commence around middle of January, 2015. The contract has a value of approximately US20 million for the firm duration period. UMW-OG President, Rohaizad Darus said, “This new contract for our newly built UMW NAGA 7 underlines our continued commitment to geographical expansion. The earlier contract awarded by NIDO Petroleum Limited for ‘UMW NAGA 5’ opened the door for us into the Philippines market. We hope ‘UMW NAGA 7’ will further solidify our presence in this new emerging and exciting market. Just like our business model in Vietnam, we break into the market and develop it further with more contracts.”

UMW secures Myanmar contract for 'UMW Naga 5'

UMW OIL & GAS CORPORATION BERHAD (UMW- OG) today announced that its wholly-owned subsidiary UMW Offshore Drilling Sdn Bhd (UOD) has been awarded a contract with PTTEP International Limited (PTTEPI) in relation to the Provision of Drilling Rig Services for Block M-3 Appraisal Drilling Campaign 2014. Block M-3 is located at offshore Myanmar. The contract will be performed using ‘UMW NAGA 5’, its latest jack-up drilling rig, which is currently under a drilling contract in the Philippines with NIDO Petroleum Pty Ltd. (NIDO). The contract is for five firm wells, (approximately 250 days excluding mobilisation and demobilisation), and may be extended for one optional well thereafter and represents a contract value of approximately USD51.3 million for the firm wells. The rig is expected to be mobilized to Myanmar in August.