Lamprell Delivers Jack-up Rig to Mexican Client

Lamprell Delivers Jack-up Rig to Mexican Client

Lamprell, a provider of specialist engineering services to the international offshore and onshore oil & gas and renewables industries, has successfully delivered a jack-up drilling rig to its Mexican client.

The contract award from Compañía Perforadora Mexico S.A.P.I. DE C.V. (“PEMSA”), a subsidiary of Grupo Mexico, for the construction and delivery of Hull 108, a completely outfitted and equipped, Friede & Goldman designed, Super M2 self-elevating Mobile Offshore Drilling Platform, was announced on 28 December 2011. The rig is designed to operate in water depths of up to 300 feet and has a rated drilling depth of 30,000 feet.

Hull 108 was under construction by Maritime Industrial Services Co. Ltd. Inc. (“MIS”) at the time of its acquisition by Lamprell in July 2011. The fabrication of the jackup rig was completed in Lamprell’s Sharjah yard in U.A.E. and delivery has been completed on time.

As a result of the successful delivery of the rig, Lamprell will repay US$70 million of debt which is outstanding under MIS Acquisition Term Loan (‘Facility A”) and the Hull 108 Construction Term Loan (“Facility B”).

Commenting on the delivery Nigel McCue, Chief Executive Officer, Lamprell, said:

“We are delighted to be announcing the delivery of this rig on schedule and we continue to believe the Gulf of Mexico represents an exciting market for Lamprell. We look forward to working with PEMSA in the future.

We are also pleased to be clearing the debt related to the acquisition of MIS and also the project debt, which is in line with the commitments made at the time we acquired MIS. We believe this demonstrates the underlying strength of the Group’s balance sheet.”

Offshore Energy Today Staff, June 15, 2012

 

Share this article

Follow Offshore Energy Today

Events>

<< Jan 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply