Analyst Research Report Snapshot

Title:

Flash Note – UMW (ADD, maintain) - US$140m O&G contract win, < 1% earnings enhancement

Price:

$12.00

Provider:

Affin Investment Bank

Date:

05 Feb 2013

Pages:

2

Type:

AcrobatPDF

Companies referenced:

UMWS.KL

Available for Immediate Download
Summary:

Bursa Malaysia announcement The Group’s wholly-owned unit, UMW Petrodrill (M) Sdn Bhd, has been awarded a US$140m (or RM434m) contract from Sabah Shell Petroleum Co Ltd to supply a single combo top tension riser for the latter's offshore O&G operations within the deepwater Malikai field in Sabah. The Malikai field is Malaysia's third deepwater project after Kikeh and Gumusut-Kakap, all of which are located offshore Sabah. Sabah Shell and ConocoPhillips Sabah Ltd each own a 35% interest in Malikai field, while Petronas Carigali Sdn Bhd, the exploration and production arm of Petroliam Nasional Bhd (Petronas), holds the balance of 30%.

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