Ocean Rig Signs Contract for Its Drilling Rig Eirik Raude Offshore West Africa

Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, today announced that it has signed a new drilling contract for its semisubmersible drilling rig “Eirik Raude” with an independent operator, for work offshore West Africa.

The expected total backlog to complete the 2 well program is estimated at $ 67.5 million for a period of 84 days. The new contract is expected to commence after the rig completes its scheduled 10-year special survey. The customer has the option to extend the contract for one additional well for an estimated duration of approximately 40 days.

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Source: Ocean Rig, March 22, 2012