PCPP terminates jackup Naga 2 contract

PCPP Operating Co. (PCPP) has terminated its $170 million contract with UMW Standard Drilling for the jackup Naga 2, which was scheduled to drill block SK 305, offshore Sarawak.

Offshore staff

SINGAPORE -- PCPP Operating Co. (PCPP) has terminated its $170 million contract with UMW Standard Drilling for the jackup Naga 2, which was scheduled to drill block SK 305, offshore Sarawak.

UMW Standard Drilling is in discussions and negotiations with other PSC operators for the rig. The company expects Naga 2 to be in operation by September.

07/08/2009

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