Lundin declares option on Ocean Rig semi-submersible

Lundin declares option on Ocean Rig semi-submersible

Lundin Norway has declared its third option to extend the contract for Ocean Rig semi-submersible Leiv Eiriksson, keeping the rig employed through to September.

Ocean Rig has granted Lundin an additional two options to drill further wells in the future, which could see the rig could be employed until the first quarter of 2019.

George Economou, chairman and CEO of Ocean Rig, commented: “We are grateful for the support of our major customer in Norway and subject to the successful restructuring look forward to extending this relationship in the long-term.”

The extension and further options, if exercised, would generate around $85m.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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