Offshore staff
HOUSTON -- Petrobras has contracted with Pride International Inc. for a five-year contract for the Pride Mexico semisubmersible. The rig will carry out drilling operations offshore Brazil, Pride says.
The contract is expected to begin in 2Q 2008, following an estimated 270-day shipyard program and subsequent mobilization from the US Gulf of Mexico.
ThePride Mexico is a conventionally moored semi equipped to operate in water depths to 1,100 ft ( m). The rig recently completed a three-year contract offshore Mexico and is mobilizing to a shipyard in Galveston, Texas, where it will undergo a previously planned regulatory survey and maintenance. Upgrade work includes increasing the rig's water depth capability to 2,300 ft ( m) and modifications to the mooring system and crew quarters.
"The five-year contract for the Pride Mexico further demonstrates the strong business fundamentals associated with the floating rig market segment," Louis A. Raspino, president and CEO of Pride International Inc., says. "Following the relocation of this rig, the company will have an industry-leading seven semisubmersible rigs operating off the coast of Brazil, expected to be one of the industry's strongest regions for floating rigs for many years to come. The upgrade of thePride Mexico demonstrates our willingness to opportunistically enhance the capabilities of our fleet at attractive terms."
5/21/2007
