Pride Scores Another PEMEX Contract

Pride International has been awarded a 3-1/2 year, $66 million contract for the semisubmersible Viking by PEMEX for work offshore Mexico. The contract will commence October 1, 2003.

Four additional Pride rigs previously awarded contracts by Pemex in May 2003 are to commence work on July 1, 2003. The jackup rigs Pride Tennessee, Pride Alabama and Pride Colorado are currently en route from the U.S. Gulf of Mexico, and Rig 1003, a platform rig, has completed its move to Mexico. With these deployments and the Viking contract, Pride's fleet in Mexico will number 17 units, consisting of 12 jackups, three platform rigs and two semisubmersibles.