Mexican charter for Coastal Contracts

Kuala Lumpur: Coastal Contracts’ wholly-owned subsidiary, Thaumas Marine Ltd has secured a charter contract for a jack-up gas compression service unit for an aggregate value of approximately RM1.24bn from a group of Mexican companies, which in turn has entered into a gas compression service contract with Petroleos Mexicanos (Pemex), the Mexican state-owned petroleum company.
 
The construction work will be started immediately and is expected to complete in first half of 2015.
 
The charter contract is for a period of eight years with extension option up to twelve years. The charter contract is expected to commence by second half of 2015.  [11/02/14]

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