Paratus Energy Services, through its subsidiary SeaMex Holding, has secured a one-year contract for the Titania jack-up rig in Mexico.
The new contract will contribute approximately $55 million in backlog and is expected to start around mid-February 2024, Paratus informed.
As previously disclosed, the Titania jack-up remained operating under its existing contract with Pemex Exploración y Producción (Pemex) beyond its early termination date of March 16, 2023, to complete work on an existing well.
Paratus has confirmed that the Titania jack-up rig will operate in direct continuation under the new contract award.
"We are pleased to announce that the Titania will continue her operations without interruption. Our long-standing business in Mexico continues to develop with this latest award, which also highlights the successful take-over from our previous rig-manager of all business aspects, including marketing and operations. These are now all based in Mexico and run in-house,” said Raphael Siri, CEO of SeaMex Group.
Titania jack-up is a 2014-built, F&G JU2000E-design rig. It was constructed by Dalian Shipyard in China, and is capable of 30,000 ft drilling at maximum water depths of 300 ft.