Hydril Receives $11 Million Order From Diamond Offshore

Hydril Company announced it has received an order valued at approximately $11 million for the purchase of a blowout preventer multiplex control system from a subsidiary of Diamond Offshore Drilling, Inc. Delivery of the system will be in the fourth quarter of 2002.

Chris Seaver, President and CEO of Hydril Company stated, "This order represents the second blowout preventer multiplex control system to be provided by Hydril in support of Diamond Offshore's ongoing rig upgrade program. We are pleased that Diamond Offshore has chosen our equipment to be used in the development of their deepwater drilling program. Our backlog of blowout prevention and control system equipment continues to build, affirming the superiority of our technology and the strength of the oil service sector."