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    Diamond Offshore to upgrade rigs

    News // July 27, 2001
    Diamond Offshore announced that it plans to spend approximately $100 million over the next 12-24 months to upgrade six of its jack-up rigs.

    The Ocean Titan and the Ocean Tower, both 350ft independent-leg slot rigs, will be converted to 350ft independent-leg cantilever rigs. The Ocean Spartan, the Ocean Spur, the Ocean Sovereign, and the Ocean Heritage, all 250ft independent-leg cantilever rigs, will be upgraded to 300ft independent-leg cantilever rigs.

    The Ocean Rover's specifications will be upgraded to match those of the enhanced Ocean Baroness. It is estimated that this upgrade will cost about $200 million and will take approximately 19 months to complete - almost 18 months and $150 million less than required to build a new rig of equivalent spec.

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