Sembcorp Marine calls off three Oro Negro rig contracts

One of Oro Negro's rigs previously delivered by PPL Shipyard.

Sembcorp Marine’s subsidiary PPL Shipyard has terminated contracts with Oro Negro, a Mexican drilling services provider, for the construction of three jack-up rigs. 

The contracts were with Integradora de Servicios Petroleros Oro Negro, S.A.P.I. de C.V. and its subsidiary Oro Negro Vastus.

The jack-up rigs have been technically accepted by Oro Negro but delivery of the rigs has been deferred, Sembcorp Marine explained on Wednesday.

The termination is made pursuant to the terms of the deferment agreements between PPL Shipyard and Oro Negro.

The transaction is not expected to have any material impact on the net tangible assets and earnings per share of the company for the year ending December 31, 2017.

The rigs were built based on PPL Shipyard’s proprietary Pacific Class 400 design. This type of a jack-up rig is capable of operating in deeper waters of 400 feet and equipped to drill high pressure and high temperature wells to depths to 30,000 feet. It is equipped with accommodation for 150 persons.

Starting from late 2012 until July 2013, Oro Negro ordered a total of six jack-up rigs of Pacific Class 400 from PPL Shipyard. Out of these six rigs, only three have been built and delivered to its owner. According to information on Oro Negro’s website, the jack-up Fortius was built in 2013 while the other two jack-ups, Decus and Impetus, were built in 2014.

In related news, a little over a month ago, PPL Shipyard also cancelled contracts for the construction of two rigs with Perisai Petroleum. These rigs were also built based on the PPL Pacific Class 400 design.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2017 >>
MTWTFSS
27 28 29 30 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

FPSO Roundtables 2018

The entire FPSO value chain is now critically aware of how conventional modes of cooperation and project delivery must change in light…

read more >

International Petroleum (IP) Week 2018

International Petroleum (IP) Week, hosted by the Energy Institute (EI) is a renowned and highly respected event where leaders from the global…

read more >

8th Myanmar Oil, Gas & Power Summit

The Myanmar Oil and Gas Summit is the longest established Oil & Gas event in Myanmar. Every year the event is attended by government…

read more >

FPSO Europe Congress 2018

The FPSO Europe Congress 2018 builds on these themes, lending a particular focus to FPSO Value Preservation and Operational Excellence…

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

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