Mexico Oil Co Pemex Awards Two Platform Contracts To McDermott

Mexican state oil company Petroleos Mexicanos, or Pemex, has awarded two contracts valued at $40 million to a subsidiary of McDermott International Inc. (MDR), McDermott said Monday in a statement.

The subsidiary, J. Ray McDermott, will transport and install the Ixtal-B and Maloob-C drilling platforms for Pemex's exploration and production unit, according to the statement. Installation should be completed before the third quarter of 2009, it said.

Both fields are in the Bay of Campeche, in 216 and 272 feet of water, respectively, it said.

In December 2007, McDermott won a contract to build the Maloob-C platform, which comprises a 3,527-ton, eight-leg jacket; 2,535-ton topside; 3,307 tons of piles; and 2,646 tons of 30-inch conductors.

The Ixtal-B drilling platform comprises a 1,984-ton, four-leg jacket with 2,205 tons of piles and a 2,205-ton topside.

-By Matthew Cowley, Dow Jones Newswires; 201-938-5692; [e-mail]

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