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Contract Extension for "NAGA 1" from Petronas Carigali

2010-10-04

The Semi-submersible rig "NAGA 1", operated by UMW JDC Drilling Sdn. Bhd., an affiliate company of JDC based in Malaysia, has been awarded a modified five-year contract by PETRONAS Carigali Sdn. Bhd., a Malaysian state running oil and gas company.

The original contract of twenty wells extension option has been modified to a new five-year contract effective from late November 2010, after the completing drilling works of firm twenty wells.

The drilling works with modified contract commence in direct continuation of the rig's current contract. The contract value is approximately US$ 250 million.