Total hires Angolan drilling rig

Uchenna Izundu
International Editor

LONDON, Oct. 24 -- Total E&P Angola has let a 2-year drilling contract worth $452 million to Diamond Offshore Drilling Inc. for its fourth-generation semisubmersible rig, Ocean Valiant, in Angola.

"The companies could change the contract into either a 2½ year or a 3 year agreement at the option of the operator at day rates that could earn maximum total revenue, excluding mobilization fees, totaling between $552 million and $646 million," Diamond Offshore said.

Ocean Valiant can operate in water up to 5,000 ft and can drill up to 30,000 ft. Total has interests in deepwater blocks 14, 17, and ultra deep 32.

Contact Uchenna Izundu at uchennai@pennwell.com

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