Ensco Wins 2 Mexico Jackup Contracts Worth $258 Million
March 09 2009 - 1:35PM
Dow Jones News
A Mexican unit of Ensco International Inc. (ESV) won two out of
four Mexican offshore drilling rig contracts during a recent
bidding round held by state-run Petroleos Mexicanos, a company
struggling to reverse plummeting oil production.
Drillers are keen to expand their presence in Mexico, one of the
few oil producers expected to increase spending this year despite
the 70% drop in oil prices from peaks last summer.
Ensco bid a combined $258 million to supply the two 250-foot
independent leg cantilever jackup rigs, according to Pemex.
Industrial de Servicios Outsourcing and First Drill Limited won
another contract for a 250-foot jackup with a $110 million bid, and
Blackstone Gerencia and Rowandrill won a 350-foot jackup contract
with a $125 million bid.
The rigs will be deployed in the shallow waters of the Gulf of
Mexico during the second and third quarters of this year, where
Pemex produces around 80% of its oil.
-By Peter Millard, Dow Jones Newswires; 5255-5001-5724;
peter.millard@dowjones.com