Jon C. Cole, Scorpion Offshore's President and Chief Executive Officer, said, "We are pleased to work with this quality operator involving a challenging drilling program on our first contract. In addition, this opportunity positions Scorpion Offshore very well for future work in India and the Middle East, currently the two strongest jackup markets worldwide".
The Offshore Courageous is currently under construction at Keppel AmFELS in Brownsville, Texas and will be delivered on time on May 31, 2007.
The letter of intent is subject to certain conditions including agreement of final contractual terms and conditions.
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