US-based drilling rig manufacturer, Integrated Drilling Equipment (IDE), a subsidiary of Empeiria Acquisition, has secured a contract from PEMEX Exploration and Production to build four 3000HP AC modular offshore platform rig packages.

The value of the contract is over $350m.

Platform rigs will be built as per the specifications that were jointly developed by the teams of IDE and PEMEX.

The deployment of the drilling rigs will help in the development of the Tekel, Ayastil, Xux and Tsimin oil fields located in the Bay of Campeche.

Integrated Drilling Equipment CEO Steve Cope said the company and PEMEX’s management and technical teams extended support in designing the contracts.

"IDE looks forward to using these contracts as a platform for future growth of our products and services to PEMEX and other Drilling Contractors serving the land and offshore drilling market in Mexico," Cope added.

IDE is expected to deliver the first drilling rig in the third quarter of 2014 and the other three rigs are scheduled to be delivered by December 2014.