Arias, Fábrega & Fábrega represented Grupo Mexico in connection with the sale and transfer of the newly built "Zacatecas" self-elevating drilling platform. A subsidiary of Grupo Mexico, Perforadora Mexico (PEMSA), will operate the unit in Mexico to provide services inherent to the oil industry.

The drilling unit was originally registered in Panama under the ownership of Lamprell's subsidiary, Marine Investment Holdings Co. Ltd. Inc., whilst under construction, and upon the delivery thereof it was re-documented in favor of Grupo Mexico's subsidiary, Zacatecas Jackup S.A. de C.V., and further re-flagged to the Mexican registry. 

The negotiations required several relevant issues to be considered to guaranty a smooth transaction: for the delivery of the drilling unit by Lamprell's subsidiary in favor of Zacatecas Jackup S.A. de C.V., the release of a  Panamanian naval mortgage originally granted by Marine Investment Holding Co. Ltd. Inc. in 2011, before the transfer in favor of Zacatecas Jackup S.A. de C.V., and the deletion of the drilling unit from the Panamanian registry, to be reflagged to Mexico on schedule to comply with the conditions of a Loan Agreement by PEMSA, which required, inter alia, the granting of  Mexican naval mortgage over the drilling unit.

About Grupo Mexico
In February 2010, Grupo Mexico, one of the major copper producers in the world, ventures in the oil drilling business by acquiring the Compañía Perforadora México  (Pemsa) for US$240 million. The company announced an investment through its subsidiary Pemsa of Mex$5 billion (about US$367 million) for the purchase of two oil platforms. The first platform, Haffar 1, was presented on February, 2012.