USD ЦБ — 64,92 +0,62
EUR ЦБ — 70,46 +1,04
Brent — 55,69 -4,26%
February, Wednesday

Subscribe

e-mail:

Question of the week

Will the russian Turkish stream be launched, or an apology to Erdogan is not enough?

poll archive

News // Asia

Malaysian SAAG Buys Oil Rig

22 August 2007 , 09:10557
SAAG Consolidated, a key player in the oil and gas sector in Malaysia, a supplier of spare parts to oil and gas firms, is rumoured to acquire an oil rig.

"The rumour is that the company is buying a used workover rig. They will then refurbish it and use it in their operations," said a broker.

A workover rig is used when oilmen try to restore or increase a well's production.

SAAG's share price rose 6.5 per cent, or 40 sen, to RM6.55 before trading was suspended yesterday. The company's shares have jumped almost fivefold so far this year.

Comments

No comments yet.

Post a comment

Related news