Atwood Hunter wins Egyptian contract

Contracts, Tenders and Rates - September 21, 2001

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Atwood Oceanics has been awarded an 11 well contract (plus options) by Burullus Gas Company, a joint operating company formed by the Egyptian General Petroleum Corporation, BG International Limited and Edison International SpA.

The wells will be drilled in Egyptian waters in the Mediterranean.

The Atwood Hunter is currently in the shipyard in Mobile, Alabama undergoing an approximate $50 million upgrade.

Once this is completed, sometime in October 2001, the rig will be loaded on a heavy lift vessel bound for the Mediterranean.

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