Sembcorp Marine won orders for two turnkey contracts with a total value of $417m to build two jack-up rigs for Integradora de Servicios Petroleros Oro Negro, S.A.P.I. De C.V (Oro Negro).
Sembcorp Marine's PPL Shipyard will deliver the rigs at the end of the fourth quarter of 2014 and the end of the first quarter of 2015, respectively.
The pair of high-specifications and high-performance deep drilling rigs will be capable of operating in water depths of 400 feet and drilling high pressure and high temperature wells to depths of 30,000 feet.
“Once operational, these high-specification jack-up rigs will further strengthen our rig fleet, positioning Oro Negro as a leading playing to capitalise on emerging opportunities within Mexico's growing offshore market,” said Gonzalo Gil, ceo of Oro Negro.
Including the two rigs of similar design ordered in November 2012, the total number of PPL Shipyard's proprietary Pacific Class 400 jack-up rigs ordered by Oro Negro now stands at four units.
Barring unforeseen circumstances, Sembcorp Marine expects a positive contribution to its earnings from the contracts.