JDC Announced its New Contract for "HAKURYU-5"
JDC announced that its equity-method affiliate UMW JDC Drilling Sdn. Bhd. (UJD) and Petronas Carigari Sdn. Bhd. (PCSB) agreed to sign a new drilling contract for the rig "HAKURYU-5" owned by Hakuryu 5, Inc., a consolidated subsidiary of JDC.
The contract has a duration of one year with an option to extend the contract for one more year. It will commence upon the termination of the current drilling operation offshore Myanmar, followed by the mobilization to PCSB's designated location in Malaysia.
The contract value is approximately US$ 72 million.