GlobalSantaFe Takes Delivery of GSF Development Driller II



GlobalSantaFe has taken delivery in Singapore of its newbuild ultra-deepwater semi-submersible rig, GSF Development Driller II, on February 23, 2005. The rig is scheduled to begin sea trials in the Gulf of Mexico in late May 2005 and commence a three- year contract with BP for the Atlantis project in July.

GlobalSantaFe anticipates taking delivery of its other ultra-deepwater semi-submersible rig, GSF Development Driller I, in March 2005. The rig is scheduled to begin sea trials in the Gulf of Mexico in June 2005 and begin a two-year multi-well exploration and development program for BHP Billiton in July.

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