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Ocean Rig UDW Inc. Announces Employment
Updates for the Ocean Rig Skyros
Nicosia, Cyprus - July 23, 2013
Ocean Rig UDW Inc. (NASDAQ: ORIG) (the “Company”
or “Ocean Rig”), a global provider of offshore deepwater drilling services, announced today:
• It has signed definitive documentation with Total E&P Angola, following the
previously announced Letter of Award, for its ultra deepwater drillship “Ocean Rig
Skyros”. The contract is for 5 wells or a minimum of 275 days for drilling offshore
West Africa, with an estimated backlog of approximately $190 million, and is
expected to commence upon delivery of the drillship from the shipyard, in October
2013.
• It has received a Letter of Award for its ultra deepwater drillship “Ocean Rig Skyros”,
from a major oil company. The Letter of Award is for a 6 year contract for drilling
offshore West Africa, with an estimated backlog of approximately $1.3 billion. The
Letter of Award is subject to completion of definitive documentation and receipt of
regulatory approvals. The contract is expected to commence in direct continuation of
the previous contract before the first quarter of 2015.
As a result of this LOA, as of today, our total contracted backlog (including LOAs) stands at
about $6.1 billion, primarily with investment grade or strong counterparties.
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
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