PetroMena Pushes Back $105 Million Yard Instalment

Norwegian oil service company PetroMena has agreed with its Singaporean rig-builder to postpone for a year a payment of 105 million dollars instalment that originally was due on January the 31 this year.
PetroMena has stated, that it has agreed with Jurong Shipyard in Singapore (Owned by Sembcorp Marine) to postpone the instalment for the ‘Petrorig 3’ project until delivery of the rig, which is scheduled for January 2010.
PetroMena said its subsidiary Petrorig I Pte Ltd made a preliminary agreement with Lloyds on 200 million dollars out of 300 million dollars bank debt it needs to finance its first rig, Petrorig 1.
“The company is working actively with another bank to provide the other 100 million dollars under the loan structure,” it said.

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