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Contract Award by POGC

2003-05-18

Sagadril-1 and Sagadril-2 received five year firm plus five year optional contracts with Pars Oil & Gas Company (POGC) for drilling operations in Persian Gulf. On completion of the current Total South Pars work followed by general maintenance in a shipyard, the rigs will be assigned to Agip Iran and Statoil Iran respectively prior to the work for POGC.