DRILLSHIPS LEAVE GULF



Diamond Offshore has signed a letter of intent for a three year contract for its 7,500-foot, dynamically positioned drillship, Ocean Clipper. The rig will commence working offshore Brazil for Petrobras at the end of the fourth quarter of 1999. The contract is expected to generate approximately $103 million in revenues. The rig left the shipyard in Galveston earlier this week to drill for Marathon/DOTS at Mississippi Canyon Block 348 in the U.S. Gulf of Mexico. Transocean Offshore, Inc. has been awarded a thirty month contract for its 7,500-foot, dynamically positioned drillship, Discoverer Seven Seas. The rig will commence working offshore Brazil for Petrobras after completion of its current assignment in the U.S. Gulf of Mexico for BP Amoco. The contract is expected to generate approximately $90 million in revenues. The rig will be utilized primarily on the Roncador Field in the Campos Basin area.