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3/8/2010 - DIAMOND OFFSHORE GRABS $1.4BN IN CONTRACTS FROM PETROBRAS |
| Diamond Offshore Drilling, Inc. snared contracts for three term drilling contracts from Petrobras in Brazil. The commitments for the three floating drilling rigs would generate combined maximum total revenue of approximately $1.4 billion, excluding potential performance bonus payments and any potential contract extensions, and represent at least 11 years of contract drilling backlog.
The dynamically positioned, ultra-deepwater semi OCEAN VALOR received a three-year commitment that would earn maximum total revenue of approximately $493 million. Preparations are under way to mobilize the rig from Singapore to Brazil, with work expected to commence at mid-year 2010.
The deepwater semi OCEAN BARONESS received a three-year commitment that would earn maximum total revenue of approximately $307 million, plus a potential 5% performance bonus. Preparations are under way to mobilize the rig from the Gulf of Mexico to Brazil, with work expected to commence in Q3 2010.
The dynamically positioned deepwater drillship OCEAN CLIPPER received a five-year commitment under which the unit would earn maximum total revenue of approximately $557 million, plus a potential 5% performance bonus. The rig is currently working for Petrobras under a contract that extends until mid-December 2010.
Additionally, Petrobras will initially employ the OCEAN COURAGE in Brazil commencing late in Q2 2010 and preparations are under way to mobilize the unit. The rig is currently under a previously announced five-year contract to Petrobras extending until mid-February 2015. |
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