Ocean Rig UDW has won a 6-year contract for one of its ultradeepwater newbuild drillships worth US $1.3 billion, while also firming up another contract for the same rig worth a further $190 million.
The offshore driller received a Letter of Award (LoA) for its ultra-deep drillship Ocean Rig Skyros from an unspecified “major oil company”. The LoA is for a 6-year contract for drilling offshore West Africa, with an estimated backlog of approximately $1.3 billion, it said.
The award is subject to completion of definitive documentation and receipt of regulatory approvals, with the contract expected to start in direct continuation of the previous contract before the first quarter of 2015.
Ocean Rig also confirmed it had signed definitive documentation with Total E&P Angola, following a previously announced LoA, for the Ocean Rig Skyros to drill up to five wells (or for a minimum of 275) offshore West Africa. The estimated backlog is valued by Ocean Rig at approximately $190 million, with the contract expected to commence upon delivery of the drillship from the shipyard in October 2013.
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