Ocean Rig Announces Contract Signing

Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, has announced  that it has signed definitive documentation, following the previously announced Letter of Intent, for one of its semi-submersible drilling rigs, the Eirik Raude, with an oil major.

The drilling contract is for a one-well program, with an estimated duration of up to 6 months, for drilling offshore Ireland, with an estimated backlog of approximately $112 million, including mobilization and demobilization.

The rig is scheduled to commence this contract in the second quarter of 2013, in direct continuation from its previous contract in West Africa.