Frigstad and Pemex Fail to Reach Deal for Frigstad Oslo

As previously announced Frigstad Discoverer Invest Ltd offered its ultra deepwater rig SS Frigstad Oslo against a contract in Mexico for drilling to water depths of 10,000 feet.

As expected, and in accordance with Mexican law, Pemex could not accept the commercial and contractual exemptions included in the offer from Frigstad.

As there apparently are no accepted offers for the 10,000 feet water depth category, Frigstad will continue to be in close contact with Pemex to further monitor their actions going forward.

In addition there are several upcoming work opportunities in the market, which will be pursued.

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