Malaysia's Coastal Contracts wins $372 mln Mexico job

KUALA LUMPUR Mon Feb 10, 2014 6:44am EST

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KUALA LUMPUR Feb 10 (Reuters) - Malaysian oil field services firm and rig builder Coastal Contracts said on Monday its unit won a 1.24 billion ringgit ($372.3 million) charter contract to supply a jack-up rig with gas compression capabilities to a group of Mexican firms.

These Mexican firms are oil field service contractors who earlier won a gas compression service contract with Mexico's national oil company Pemex, Coastal Contracts said in a filing with the Malaysian stock exchange.

Coastal Contracts said it will deliver the jack-up rig, which will handle sour gas production in the Gulf of Mexico, by the first half of next year. The charter contract will start in the second half of 2014 and will run for eight years, with an option to extend for up to 12 years, the Malaysian firm said.


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.