Umw Oil And Gas Malaysia

About velesto energy berhad velesto energy berhad participates in the robust upstream activities of the oil and gas industry through two main activities. Pipe manufacturing cladding exploration operations. In our drilling services business apart from our home base in malaysia we also operate in other parts of south east asia providing drilling services for exploration development and production wells with our fleet of offshore drilling rigs.

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Umw oil gas umog kl umwog mk 3 a play on malaysia s growing e p activity we initiate coverage on umw oil gas with a neutral rating and target price of rm3 50 implying a 7 5 downside potential.

Umw oil and gas malaysia. More than half of the company s drilling rigs are idle and awaiting contracts. The proposal to change the name was announced in april 2018 after having been approved by the companies commission of malaysia ccm on march 15 2018. 60 3 2096 8716 website. Umw oil and gas corporation umwog will be letting go of around 300 employees in malaysia mostly from it s rig operations.

In automotive umw forms joint ventures with toyota and perodua assembling marketing and distributing passenger and commercial vehicles. The very same drive has allowed the group to thrive in malaysia and traverse international shorelines with strong presence in singapore brunei indonesia vietnam myanmar papua new guinea and china. This is due to business suffering as a result of low crude oil prices. Further umw distributes heavy equipment in its equipment.

As a leading conglomerate umw is all about being innovative and delivering excellence in everything that we do. We carry this ideal through the strategic business units that we operate in. Octg pipelines. Umw holdings bhd comprises a wide range of businesses in industries such as oil and gas automotive equipment and manufacturing and engineering.

The company offers drilling operations oilfield services pipe manufacturing and oilfield products. Products and services of umw oil gas. Malaysian offshore drilling and services provider umw oil gas is changing its name to velesto energy starting monday 21 2018. Velesto energy berhad participates in the robust upstream activities of the oil and gas industry.

Umw oil gas berhad provides services to the oil and gas industry. 1988 establishment of umw oilpipe services sdn bhd marks our foray into the oil and gas business 2002 umw oil gas division was established 12 november 2012 umw oil gas corporation sdn bhd incorporated in malaysia as a private limited company 14 may 2013 umw oil gas corporation sdn bhd converted into a public company. Umw oil gas corporation berhad umw og is a malaysia based oil gas company involved in providing drilling and oilfield services for the. Umw oil gas corporation berhad umw og is a malaysia based multinational provider of drilling and oilfield services for the upstream sector of the oil and gas industry.

60 3 2096 8788 fax.