SMM

SMM: has secured additional orders for two turnkey contracts worth a combined value of US$417m from repeat customer Oro Negro, for the construction of two units of high-spec jackup rigs. Delivery is scheduled for end Jul 2015 and end 3Q15 respectively. Including the earlier contracts of two identical jack up rigs placed in Nov ’12 and another two similar rig units in Mar ’13, this brings the total no. of Pacific Class 400 jack up rigs ordered by Oro Negro to 6 units.