LeTourneau Technologies to provide rig kit, design for Brazilian consortium

LeTourneau Technologies, Inc. (LTI) has signed contracts valued at approximately $185 million with a Brazilian construction consortium to provide the rig kit, rig design, and drilling equipment for two LeTourneau Super 116E jack-up rigs.

Offshore staff

HOUSTON -- LeTourneau Technologies, Inc. (LTI) has signed contracts valued at approximately $185 million with a Brazilian construction consortium to provide the rig kit, rig design, and drilling equipment for two LeTourneau Super 116E jack-up rigs.

The two Super 116E jack-up rigs are to be built at Petrobras' Maragojipe, Bahia, Brazil facility by the Consorcio Rio Paraguacu. The rig kits will be substantially delivered in 2009 while most of the drilling equipment will be provided in 2010.

The Super 116E Class is one of five current LTI jackup rig designs, and is an evolution of LTI's 116-C Class design. The Super 116E provides for up to 2,000 kip greater payload than its predecessor. The rig is designed to drill in up to 350 ft (107 m) of water in moderate environmental locations and can be outfitted to handle high temperature/high pressure wells.

03/26/2009

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