Eni, Ocean Rig execute drilling contracts for two drillships

Ocean Rig UDW Inc. has extended the contract for the drillship Ocean Rig Poseidon with ENI Angola for a further one year until the second quarter of 2017 with total contract backlog now standing at about $367 million.

This deal had been announced earlier in January 2015, and it stipulated Eni would extend the deal for Ocean Rig Poseidon on a reduced dayrate, but Eni then also agreed to enter into two contracts for the employment of one or more of Ocean Rig’s available drillships in West Africa starting for an aggregate period of approximately 8 months.

According to Ocean Rig, all closing conditions including approvals by national authorities and signing of definitive documentation have been satisfied. The company has today also announced that it has signed a new contract for the drillship Ocean Rig Olympia with ENI to drill offshore Angola starting in the third quarter of 2015 for a minimum of 8 months with a total contract backlog of about $91 million.

George Economou, Ocean Rig’s Chairman and Chief Executive Officer said: “We are pleased to expand our strong relationship with ENI and our presence in Angola. This is a clear testament of our ability to provide a first class service to our clients.”
Offshore Energy Today Staff

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