PetroRig 1 Wins Five Year Contract from Petrobras

Petrobras has contracted the PetroMENA newbuild, PetroRig 1, for work in the Gulf of Mexico and offshore Brazil. The contract is for five years and is valued at US $700 million.

The contract will commence upon delivery of the rig, owned by PetroMENA AS, from the Jurong Shipyard in Singapore the 2nd quarter 2009.

The contract was signed by Larsen Oil and Gas Ltd. of Aberdeen. Larsen also has a similar drilling rig, PetroRig 2, owned by PetroMENA AS under construction at Jurong Shipyard for delivery at the end of 2009, as well as 2 heavy duty (375ft) jackups owned by PetroJack ASA for delivery in 2008.

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