2018 April 23 17:36

Ocean Rig announces agreement to postpone delivery of newbuilding drillship Ocean Rig Santorini

Ocean Rig UDW Inc., an international contractor of offshore deep water drilling services, today announced that its subsidiary that is party to the shipbuilding contract for the construction of its 7th generation newbuilding drillship the Ocean Rig Santorini reached an agreement with Samsung  Heavy Industries (“SHI”) to postpone the delivery of such newbuilding drillship  to September 2019.

Under the agreement reached with SHI the  expected delivery date  will be September 30, 2019 but may be brought forward at the option of the Company. The remaining yard installments are expected to total $372 m illion of which $360 m illion will be financed by non - recourse seller’s credit that matures in June of 2023.

About Ocean Rig UDW Inc.

Ocean Rig is an international offshore drilling contractor providing oilfield services for offshore oil and gas exploration, development and production drilling, and specializing in the ultra - deepwater and harsh - environment segment of the offshore drilling industry.