The contract provides for an operating dayrate ranging from $240,000 to $245,000 and the dayrates for the option periods are to be mutually agreed six months in advance. All rig moves will be on a dayrate basis and Woodside will provide all tow vessels.
This contract will commence immediately upon the rig completing its current contract commitments with Burullus Gas Co. offshore Egypt (estimated April to May 2006).
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