Pemex Awards US $412 Million in Drilling Contracts

Mexican state oil company Pemex's E&P unit Pemex Exploracion y Produccion has awarded companies Swecomex, Servicios Integrales GSM and BJ Services (NYSE: BJS) a joint drilling contract for 1.43bn pesos (US$132mn) plus US$280mn.

The contract entails drilling and completing wells at fields in the southern region, local group Carso Infraestructura y Construccion (CICSA) said in a filing to the Mexican stock exchange (BMV).

Cicsa is the parent company of Swecomex and Servicios Integrales GSM.

Works, which include complementary infrastructure, are due to begin next month and wrap up in December 2009, the filing said.

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