Pemex unit charters SeaDragon semi

SeaDragon Offshore has signed a 5-year, $958 million charter contract with Mexico's Pemex Exploration & Production for the SeaDragon Offshore I Oban B deepwater semisubmersible.

Eric Watkins
Senior Correspondent

LOS ANGELES, July 9 -- SeaDragon Offshore has signed a 5-year, $958 million charter contract with Mexico's Pemex Exploration & Production for the SeaDragon Offshore I Oban B deepwater semisubmersible.

SeaDragon said the harsh-environment vessel will drill in 5,000 ft of water in NEN-1 field in the Gulf of Mexico starting in January 2010. Construction of the hull has commenced and will be completed in Russia's Sevmash yard in 2008.

SeaDragon will then complete the vessel's topside in the UK at the Haverton Hill yard used by the Tees Alliance Group. SeaDragon is securing options on two additional Russian hulls and has agreed on fit-out times for those vessels.

Contact Eric Watkins at hippalus@yahoo.com.

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