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Tuesday, 02 December, 2008, 21:20 GMT | more >>

Petrojack cuts its losses



By Upstream staff 

Norway's Petrojack said today it has cut its net loss before tax for the first half of 2007 to Nk27.7 million, compared with Nkr44.3 million in the year-ago period.

The company said its net result for the second quarter of 2007 was a loss of Nkr10.7 million before tax and Nkr8.9 after tax, compared with a loss of Nkr25.9 after tax in the same period of 2006.

Petrojack has two jack-up rigs being built at Jurong Shipyard in Singapore. The jack-up rigs have an operating water depth capacity of 375 feet and drilling depth capacity of about 30,000 feet.

Petrojack's original construction programme included four rigs. However, two rigs were sold to Maersk in the third quarter of 2006 for $420 million.


Wednesday, 22 August, 2007, 10:44 GMT  | last updated: Wednesday, 22 August, 2007, 10:44 GMT

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