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Neptune contracts Explorer to South Asia


Offshore

Offshore staff

Neptune Marine has a contract with a major operator for the drillship Neptune Explorer for operations in South Asia. The contract period is three years with an option to extend the contract at mutually agreed terms for another 3 years. The contract value for the firm contract period is US $348 million.

The contract requires the drillship to be upgraded from the current 750 ft drilling capability to operations up to 3,500 ft water depth.

Delivery of the rig is scheduled for 1Q07.

6/13/06

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