Total named for Ocean Rig drillship

West Africa work: Ocean Rig Olympia

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Steve Marshall

 10 May 2012 13:53 GMT

Total has been identified by Ocean Rig as the client in a charter deal for the drilling contractor’s ultra-deepwater drillship Ocean Rig Olympia off West Africa that was signed on Thursday.

The vessel will be used by the Angola subsidiary of the French oil giant under the three-year contract, first revealed last month, which is in direct continuation of an existing charter off West Africa.

The $625 million backlog on the deal equates to $595,433 a day, a sum which would almost certainly include bonuses and mobilisation.

Total has options for two one-year extensions of the contract.

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