Pemex adds another year to Oro Negro’s jack-up contract

  • Business & Finance

Mexican oil and gas services company Oro Negro has entered a one-year contract extension with Mexican state-owned oil and gas company, Pemex.

Oro Negro’s 2014-built jack-up rig Decus will continue working for Pemex under a contract which provides options for another extension, until 2018. The amendment is effective as of October 26, 2015.

The Pacific Class 400 jack-up rig was built by Sembcorp Marine’s subsidiary PPL Shipyard and delivered to Oro Negro in February, 2015. Oro Negro currently operates a fleet of eight jack-ups.

In August 2015, Pemex cut the dayrates for four of Oro Negro’s four drilling rigs, Primus, Laurus, Fortius, and Decus.

Back then, it was said that the daily rental rate for each of the rigs would be reduced from $160,000 to $130,000 for the period from June 1, 2015 through May 31, 2016.

It has been further noted that from and after June 1, 2016, the daily rental rate would return to approximately $160,000. The companies also agreed to extend charter leases by one year for each rig.

Offshore Energy Today Staff

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