Ocean Rig Wins a 3-Year Contract for Ocean Rig Mylos

Source: www.gulfoilandgas.com 9/5/2012, Location: South America

Ocean Rig UDW Inc, a global provider of offshore deepwater drilling services, announced that it has signed definitive documentation, following the previously announced Letter of Intent, for the Ocean Rig Mylos, a 7th generation drillship, with Repsol Sinopec Brasil S.A.

The Ocean Rig Mylos is currently being constructed at Samsung Heavy Industries shipyard and is scheduled for delivery in July 2013. It is the first in a series of three 7th generation drillships Ocean Rig expects to take delivery of during the second half of 2013 from Samsung. The drilling contract is for a 3-year period, commencing upon delivery of the drillship from the shipyard, for drilling offshore Brazil, with an estimated revenue backlog of approximately $700 million. Under the contract, Repsol also has options to extend the contract for up to two years beyond the initial three-year contract period. The company further announced that it has agreed with Samsung Heavy Industries to extend, at no additional cost, the deadline of exercising its options to construct up to three additional ultra-deepwater drillships, to March 31, 2013.


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Related Categories: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 

Related Articles: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 


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