Deepwater semi heads to Mexico

Offshore staff

HAMILTON, Bermuda – Pemex has agreed terms with Seadrill affiliate Sea Dragon de Mexico for a five-year drilling assignment offshore Mexico.

The ultra-deepwater semisubmersible West Pegasus (previously Seadragon I) will perform the assignment, which has a fixed operating day rate for the first two years. Thereafter, the day rate will be adjusted annually based on market conditions.

The estimated contract value is $850 million (excluding the mobilization fee), assuming a constant day rate over the five-year term.

West Pegasus was recently delivered from the Jurong Shipyard in Singapore and mobilized to Mexico on April 1. Operations are due to start this summer.

04/08/2011

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...