Ocean Rig UDW Inc. Announces Order
of 7th Generation UDW Drillship

Nicosia, Cyprus – October 15, 2012

Ocean Rig UDW Inc. (NASDAQ:ORIG) (the “Company” or “Ocean Rig”), a global provider of offshore deepwater drilling services, announced today that it has signed a contract to construct a 7th Generation Ultra Deepwater Drillship at Samsung Heavy Industries. This 7th Generation drillship is a sister ship to the three currently under construction at Samsung, and is scheduled to be delivered to the company in January 2015.

About Ocean Rig
Ocean Rig is an international offshore drilling contractor providing oilfield services for offshore oil and gas exploration, development and production drilling, and specializing in the ultra-deepwater and harsh-environment segment of the offshore drilling industry. The company owns and operates 10 offshore ultra deepwater drilling units, comprising of 2 ultra deepwater semisubmersible drilling rigs and 8 ultra deepwater drillships, 3 of which remain to be delivered to the company during 2013 and 1 in 2015. Visit the Company’s website at www.ocean-rig.com.

Ocean Rig press release