Diamond Offshore acquires Omega semi-submersible

Company News - November 8, 2002

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Diamond Offshore has announced that it has signed a memorandum of agreement to purchase the semi-sub Omega for $65 million.

The acquisition is expected to be completed in the first quarter of 2003, after the Omega has undergone its five year survey.

The Omega is currently offshore South Africa and is a third generation Bingo 3000 rig built in 1983. The rig is capable of working in water depths of up to 3,000 feet.

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