Pride to Build New Ultra-Deepwater Drillship

Pride International will construct an advanced-capability, dual activity drillship for use in ultra-deepwater drilling locations. The new rig will be capable of drilling in water depths of up to 12,000 feet, with a total vertical drilling depth of up to 40,000 feet. The rig, to be constructed by Samsung Heavy Industries Co., Ltd. (SHI) on a fixed-price basis, is expected to be delivered from the shipyard in the third quarter 2010, following construction, commissioning and system integrated testing.

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