Eni extends contract for Ocean Rig Poseidon

Ocean Rig UDW Inc. has agreed to extend Eni Angola S.p.A.’s contract for the drillship Ocean Rig Poseidon for a further year until 2Q 2017.

Jan 8th, 2015
Ocean Rig Poseidon
Ocean Rig Poseidon

Offshore staff

NICOSIA, Cyprus – Ocean Rig UDW Inc. has agreed to extend Eni Angola S.p.A.’s contract for the drillship Ocean Rig Poseidon for a further year until 2Q 2017.

As part of the contract extension, Ocean Rig has agreed to adjust the existing day rate of the Ocean Rig Poseidon contract in exchange for Eni agreeing to enter into two contracts to use one or more of Ocean Rig’s available drillships in West Africa starting in 1Q 2015 for an aggregate period of approximately eight months.

This agreement increases the company’s total contract backlog by approximately $187 million. The agreement is subject to customary closing conditions including the approval by national authorities, which is expected before the end of 1Q 2015.

01/08/2015

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