Ocean Rig Ultra-Deepwater Drillship Contract Confirmed

By George Backwell June 5, 2014

Greece's DryShips, says that its wholly-owned subsidiary, Ocean Rig UDW, has signed definitive documentation, following the previously announced contract award for the 6-year contract for drilling operations offshore Angola for its ultra deepwater drillship the 'Ocean Rig Skyros'.

The contract is for drilling operations offshore Angola for Total E&P in its Angola Block 32, and is expected to commence in the third quarter of 2015 with an estimated backlog value of $1.3 billion.

About DryShips
DryShips Inc. is an owner of drybulk carriers and tankers that operate worldwide. Through its majority owned subsidiary, Ocean Rig UDW Inc. (ORIG), DryShips owns and operates 13 offshore ultra deepwater drilling units, comprising 2 ultra deepwater semisubmersible drilling rigs and 11 ultra deepwater drillships, 1 of which is scheduled to be delivered to Ocean Rig during 2015, 1 of which is scheduled to be delivered to Ocean Rig during 2016 and 2 of which are scheduled to be delivered during 2017.

www.dryships.com