Petróleos Mexicanos (PEMEX) selected Gulf Driller VI to host Mr. Octavio Romero Oropeza, CEO of PEMEX on 28th April 2022. GD VI is again selected by PEMEX as it has completed Koban 25 well at coast of Tabasco, Offshore Mexico.

The Gulf Driller VI (GDVI) and Gulf Driller VIII are JU2000E F&G designed high specification Jack-up rigs, ABS Class and capable of operations in water depths of up to 120m(400ft) and to drill wells down to depths of 10,668m (35,000ft) in harsh offshore environments, built at CIMC Raffles. In addition (similar rig specification). Both rigs were chartered on a bareboat charter basis by CMIC to Constructora y Perforadora Latina, S.A. de C.V. ("CP Latina") in June 2019 to provide integrated offshore well services to PEMEX.

GD VI is currently drilling Koban 25 – which is one of the strategic shallow fields for PEMEX. Overall these strategic new fields have produced additional 355 Million barrels (end of 1Q 2022) for PEMEX.

Table 1: New Fields Production (credit: PEMEX)

As the major pillar of Mexico’s economy, PEMEX plays an important role in global energy supply chain and is one of the world leading energy companies. PEMEX encouraged GD VI to continue to be the best rig and to maintain great performance with utmost HSE. 

Photo 1: Mr. Octavio, CEO PEMEX interacting with CP Latina rig crew onboard GD VI. (credit: PEMEX)

CP Latina, the rig operator, shared the good news and expressed to CIMC Raffles for their deep support and trust, and further enabled by the close cooperation from CMIC Offshore Asset Management Team. This also builds on the strong operational confidence PEMEX has on CP Latina in managing GDVI and GDVIII, and position CP Latina as strong leading contender to secure more wells assignment for GDVI and GDVIII.

 With the ongoing geopolitical tension, the oil price has reached 7-year high and is expected to maintain in the near future, while oil inventories are at lowest in 7 years. Upstream CAPEX spending is also seeing recovery with major oil companies are expected to expand their investments 19% for this year. National Oil Companies (NOC) are also expecting strong growth and shallow water wells are expected to see a 19% Y-o-Y growth. Jack up rig utilisation is rising above 80% and bound to increase further. Demand for rigs is recovering with large potential to recover to pre-COVID levels.  

Photo 2: Mr. Octavio, CEO inspecting oil samples from Koban 25 Well. (credit: PEMEX)

Photo 3: TSC Conductor Tensioning Unit onboard GDVI (credit: PEMEX)

CMIC International

April 28, 2022