Major contract for Ocean Rig

Ocean Rig has signed a letter of intent with Statoil and Norsk Hydro for the drilling of three wells in the Barents Sea.

Ocean Rig has signed a letter of intent with Statoil and Norsk Hydro for the drilling of three wells in the Barents Sea.

The contract also incudes an option on drilling a well in the North Sea, prior to the drilling in the North Sea.

The value of the contract is US$ 44.25 million, a little over NOK 300 million.

This sum include investments worth US$ 5.25 million and transport costs worth US$ 7.5 million.

The drilling in the Barents Sea will begin sometime between October 1st and Desember 31st.