Seadrill secures contracts with PEMEX for 4 jackups

Posted on 19 February 2014

PEMEX has awarded six-year drilling contracts to Seadrill’s West Oberon, West Intrepid, West Defender and West Courageous jackups. A fifth contract for the recently acquired jackup, Prospector 3, renamed West Titania, is expected to be finalized during Q2 2014. Total revenue potential of the five contracts exceeds $1.8 billion.

Seadrill also established SeaMex, a 50-50 joint venture with an investment fund controlled by Fintech Advisory, to own and manage jackups working for PEMEX. SeaMex will pursue more opportunities in Mexico and Latin America.

“This opportunity to expand our relationship with PEMEX was partly developed on the back of Seadrill’s successful operations with our ultra-deepwater semisubmersible West Pegasus in Mexico,” Per Wullf, CEO of Seadrill, said. “Seadrill sees recent developments in Mexico, such as new petroleum legislation, PEMEX’s expansion plans and recent large deepwater discoveries as supportive to the great opportunity to expand business within the country.”

1 Comments For This Post

  1. Don Fields Says:

    Sir: SK Petro manufactures BOPs choke manifolds and well head equipment. It would be our pleasure to quote a price for one of the BOP stacks that you may need for the contract with PEMEX FOR 4 jackup rigs. We would need the size and pressure rating. Best regards Don Fields. 713-870-0238 or 713-876-6336

Leave a Reply

*

FEATURED MICROSITES


Recent Drilling News

  • 30 January 2015

    Chevron, BP, ConocoPhillips advancing Paleogene discoveries in deepwater GOM

    Chevron and BP will collaborate with ConocoPhillips to explore and appraise 24 jointly-held offshore leases in the northwest portion of Keathley Canyon...

  • 29 January 2015

    PetroQuip deploys BigFoot toe sleeve in Anadarko Basin

    PetroQuip Energy Services successfully implemented its revolutionary toe sleeve, BigFoot, in a recent horizontal completion for an independent operator...

  • 27 January 2015

    US EIA: Lower 48 oil production outlook stable despite expected rig count reduction

    The sharp decline in oil prices over Q4 2014, which has continued in January, is already having a significant effect on drilling activity in the US, according...

  • 27 January 2015

    Hess announces 2015 capital, exploratory budget

    Hess Corp announced a 2015 capital and exploratory budget of $4.7 billion, a 16% reduction from its 2014 actual spend of $5.6 billion. Of this, $2.1 billion (45%) is budgeted for unconventional shale resources...

  • 26 January 2015

    Young professionals program at SPE/IADC Drilling Conference to target future leaders of the industry

    The oil and gas industry is constantly looking to the future. Whether this comes in the form of pushing the limits of pressure...

  • Read more news