PetroMENA signs EPC contracts with Jurong Shipyard

May 31, 2007
PetroMENA ASA has entered into EPC contracts with Jurong Shipyard for the construction of three sixth-generation semisubmersible drilling rigs.

Offshore staff

OSLO, Norway -- PetroMENA ASA has entered into EPC contracts with Jurong Shipyard for the construction of three sixth-generation semisubmersible drilling rigs.

The semis will operate in water depths of 2,286-3,048 m (7,500-10,000 ft) and will be able to work in the Gulf of Mexico, Brazil, and West Africa. All of the rigs will be equipped for harsh environment operations, PetroMENA says, but will initially not be designed for arctic environments.

PetroRig I is scheduled for delivery in January 2009, PetroRig II in September 2009, and <>i>PetroRig III in January 2010.

PetroMENA has secured long-term drilling contracts with Petrobras America Inc. for PetroRig I and with Petroleo Brasileiro SA for PetroRig II. The contracts will begin as soon as the rigs are delivered from the yard.

PetroMENA ASA was incorporated on Jan. 7, 2005, by Larsen Oil & Gas AS, which is engaged as manager for PetroMENA.

5/31/2007