GlobalSantaFe Takes Delivery of Newbuild Semisub

GlobalSantaFe took delivery of the GSF Development Driller I in Singapore on March 29, 2005. The ultra-deepwater semisubmersible rig, the fourth and last rig in the company's four-year newbuild program, is expected to arrive in the Gulf of Mexico in June where it will complete sea trials and commence a two-year multi-well exploration and development program for BHP Billiton in July.

GlobalSantaFe took delivery of its other ultra-deepwater semisubmersible rig, GSF Development Driller II, on February 23, 2005. It is currently on schedule to arrive in the Gulf of Mexico in late May, where it will begin sea trials and then commence a three-year contract with BP for the Atlantis project in July.

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