Eni has agreed to extend the contract for Ocean Rig drillship Poseidon for one year until second-quarter 2017, Ocean Rig UDW Inc. said in a news release.
As part of the contract extension, Ocean Rig will adjust the existing day rate of the drillship contract in exchange for Eni agreeing to enter two new contracts for one or more of Ocean Rig’s available drillships in West Africa starting in first-quarter 2015 for an aggregate period of about 8 months, the release said. As a result of this agreement, Ocean Rig’s total contract backlog has increased by about $187 million.
The agreement remains subject to customary closing conditions, including approval by national authorities, which are expected to be obtained before the end of first-quarter 2015, the release said.
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