Ocean Rig Wins New Contract West of Shetland

Ocean Rig has been awarded a contract by BG International (NSW) Limited (a part of BG Group plc) to drill one exploration well in Block 204/21a West of Shetland, with plan to start around August 1, 2004.

This award of contract is subject to final agreement and documentation and the well will be drilled prior to the Barents Sea campaign with the rig nominated for that program. The duration of the contract is estimated to be 43 days with a contract value of US $11.9 million.