DEEPWATER ORION

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Ocean Rig announces new drilling contract and increased contract backlog

Ocean Rig UDW Inc. an international contractor of offshore deepwa ter drilling services, has signed a new drilling contract with Statoil, for a one - well drilling program offshore Tanzania, the company said in its press release. The contract is expected to commence in Q1 2018, to be performed by the Ocean Rig Poseidon. In addition, Lund in Norway AS has declared their fifth option to extend the existing contract of the Leiv Eiriksson, which is now expected to have firm employment secured until March 2018. Ocean Rig has granted Lundin two additional options to drill further wells in the future. Should Lundin exercise its remaining seven one - well options, the rig could be employed until the middle of 2019 . As a result, Ocean Rig has increased its estimated contract backlog by approximately $20 million.

Ocean Rig Poseidon Contract Extended off Angola, Additional Contract Awarded

Ocean Rig, the deep water drilling specialist reports today they have reached an agreement with ENI Angola S.p.A to extend the contract of the Ocean Rig Poseidon for a further year. This rig is now contracted into 2Q 2017, however it comes with an immediate change to its dayrate according to Ocean Rig, one that ties it to the price of oil.

Attack on drill ship defended

Tanzanian marines fended off a pirate attack on the "Ocean Rig Poseidon" on Oct 4, 2011, off the coast of Tanzania. All seven attackers were arrested. The attack against the drill ship took place at 8 a.m. about 23 nautical miles southeast of the island of Mafia. Marine soldiers guarding the ship overpowered the attackers and took them captive.