Ocean Rig and ExxonMobil Contract Signed

Orphan Basin, Canada
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Ocean Rig ASA has now concluded a drilling contract agreement with Esso Exploration Inc., a subsidiary of ExxonMobil Corporation for exploration drilling in the Orphan Basin offshore Newfoundland, Canada with potential reassignment to the US Gulf of Mexico, the United Kingdom or offshore Norway. The contract is for a two-year firm term and will commence in direct continuation from the current contract with Statoil. This is anticipated to be during the early part of 2006.

Ocean Rig owns and operates two of the world’s largest and most modern drilling rigs, built for ultra deep waters and extreme weather conditions. The units are currently operating offshore Angola and Norway.

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