STAVANGER, Norway -- Ocean Rig has received a Letter of Award from Tullow Oil Plc. for a three-year offshore Ghana development drilling contract. The contract value is approximately $700 million, including an additional 40 days of mobilization, according to Ocean Rig.
The contract can be extended by Tullow Oil with one or two years by Dec. 31, 2008, and is subject to final documentation. The rig will go directly from its current contract with ExxonMobil.