Pride Wins Two More Pemex Contracts

Pride International, Inc. has been awarded contracts for two additional Gulf of Mexico jackups by Pemex. The Pride Nebraska and Pride Alaska are being contracted for an aggregate of 2,123 days, with a total contract value in excess of $79 million. Operations are expected to commence in mid-November 2002. Including these two new contract awards, Pride's contracted fleet in Mexico now totals 12 offshore rigs and consists of nine jackups, one semisubmersible and two platform rigs.

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