Offshore staff

(Asia-Pacific) - SAAG Consolidated (M) Bhd says its subsidiary, SAAG Drilling and Well Services Sdn Bhd (SDWS), has secured a contract to provide conventional workover rig equipment and services to Exxonmobil E&P Malaysia Inc.

SDWS will make available its rigTelaga Usah for the workover program by mid-March 2006 under a one-year contract, with an option for two extensions of one-year each.

The contract value for the primary term based on a full year operation will be approximately $10.3 million, including mobilization and demobilization fees.

03/21/06