Kuala Lumpur – UMW Oil & Gas unveiled the model of its Jack-up rig, NAGA 2, at the 11th Asian Oil, Gas and Petrochemical Engineering Exhibition at Kuala Lumpur Convention Centre. The event was officiated by Tan Sri Datuk Asmat Kamaludin, Chairman of UMW Holdings Berhad. The biannual exhibition is being held from 13 to 15 June.
 
“NAGA 2, which is now under construction in Batam, Indonesia at a total cost of USD176.5 million, is expected to be delivered in 3rd Qtr 2008. The rig will be contracted out to potential Oil Companies in SE Asia Region for their offshore exploration and development activities which is expected to increase in the next two to three years”, said UMW Holdings Berhad Group Managing Director and CEO Dato’ Dr Abdul Halim Harun. NAGA 2 is a new generation Jack-up rig with capability of drilling in 350ft water depth, 30,000ft drilling depth, equipped for high pressure high temperature (HPHT) drilling environment, large VDL, bigger deck space with 70ft and 20ft X-Y cantilever and installed with automated pipe racking system. The rig also conforms to the latest standard of mobile offshore drilling rig requirement.
NAGA 2 is jointly owned by UMW Naga Two (L) Ltd. and Standard Drilling Far East Pte. Ltd.
Established in 2002 and currently operating in 11 countries, UMW Oil & Gas’ business module is designed to complement the robust upstream activities of the oil & gas industry through four core business units, namely Tubular and OCTG, Drilling and Workover, Operations and Maintenance, and Trading. Its major customers include Petronas Carigali, Shell Malaysia, Nippon Oil Malaysia, Murphy Oil and Exxon Mobil Malaysia. |
