Rowan executes contract with Petronas Mexico for Rowan Renaissance

Rowan Companies plc has announced that the Rowan Renaissance, an R-Class ultra-deepwater drillship, has been awarded a one-well contract in Mexico by PC Carigali Mexico Operations, S.A. de C.V. for an estimated duration of 80 days that is expected to commence in the second quarter of 2019. Following the initial contract term, Petronas has a one-well priced option with an estimated duration of 80 days. The Rowan Renaissance is currently under contract with Total in Mexico's Gulf of Mexico until about March 2019.

Rowan is a global provider of contract drilling services with a fleet of 25 mobile offshore drilling units, composed of 21 self-elevating jack-up rigs and four ultra-deepwater drillships. The company's fleet operates worldwide, including the United States Gulf of Mexico, Mexico, the United Kingdom and Norwegian sectors of the North Sea, the Middle East, the Mediterranean Sea, Central and South America. Additionally, the company is a 50/50 partner in a joint venture with Saudi Aramco, entitled ARO Drilling, that owns a fleet of seven self-elevating jack-up rigs that operate in the Arabian Gulf. The company's Class A Ordinary Shares are traded on the New York Stock Exchange under the symbol "RDC".

Source: Worldoil
Photo: Vessel Finder