Brazil: Ocean Rig Wins Drilling Contracts for New Built Drillships

May 13, 2011

On May 11th 2011 the Company announced two drilling contracts with Petróleo Brasileiro S.A. (“Petrobras”) for operation offshore Brazil for two of its new built drillships, ordered by Samsung Heavy Industries shipyard in Korea, the Ocean Rig Corcovado and the Ocean Rig Mykonos.

The term of the contracts are three years each with a total combined value of USD 1,1 billion.