Ocean Rig Drillships Secure Work Offshore Angola

NASDAQ-listed deepwater driller Ocean Rig says it has secured contracts with ENI for 2 of its ultra-deepwater drillships for work offshore Angola.

Ocean Rig says that it has prolonged the contract for its drillship Ocean Rig Poseidon for an extra one yr till the second quarter of 2017 with complete contract backlog now standing at about $367 million. In addition, Ocean Rig has additionally entered into a brand new contract for the drillship Ocean Rig Olympia to drill offshore Angola commencing within the third quarter of 2015. The contract is for no less than 8 months with a complete contract backlog of about $91 million.

Commenting on the contracts, George Economou, Ocean Rig’s Chairman and Chief Executive Officer stated: “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.”

Ocean Rig at the moment owns and operates 10 ultra-deepwater drilling models, together with 2 UDW semi-submersibles and eight UDW drillships. The firm additionally has 3 newbuild UDW drillships on order with supply anticipated for 2016, 2018 and 2019.

With the contracts from ENI, all 10 present rigs at the moment are secured below contract by way of not less than 2015.