Ocean Rig's Leiv Eiriksson Begins Sea Trials

Ocean Rig ASA announces that the Company's first rig, Leiv Eiriksson, will leave the Friede Goldman yard in Pascagoula, Mississippi today to commence sea trials.

The rig will first go close to the Ingalls yard in Pascagoula for inclination testing. Then the thrusters will be installed before Leiv Eiriksson goes offshore for the testing of the dynamic positioning systems and various vessel management system tests. It is estimated that the total sea trial period will last approximately 40 days.

The Leiv Eiriksson and the Eirik Raude are the largest and most complex rigs ever built in the United States. They are designed to drill to 30,000 feet below the earth's surface in water depths up to 7,500 feet and to keep drilling even in Force 8 gales and while experiencing 40-foot waves.

Ocean Rig is still negotiating a drilling contract for Leiv Eiriksson for operations offshore Angola. The Company expects the rig to be on contract when the sea trials are completed.