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Ocean Rig UDW Inc Updates on Letters of Awards


Tuesday, 23 Jul 2013 08:31am EDT 

Ocean Rig UDW Inc announced that the Company has signed definitive documentation with Total E&P Angola, following the previously announced Letter of Award, for ultra deepwater drillship Ocean Rig Skyros. The contract is for five wells or a minimum of 275 days for drilling offshore West Africa, with an estimated backlog of approximately USD 190 million, and is expected to commence upon delivery of the drillship from the shipyard, in October 2013. Additionally, the Company has received a Letter of Award for its ultra deepwater drillship Ocean Rig Skyros, from an oil company. The Letter of Award is for a six-year contract for drilling offshore West Africa, with an estimated backlog of approximately USD 1.3 billion. The Letter of Award is subject to completion of definitive documentation and receipt of regulatory approvals. The contract is expected to commence in direct continuation of the previous contract before the first quarter of 2015.