HOUSTON, March 21 /PRNewswire/ -- R&B Falcon Corporation (NYSE: FLC)
announced today that R&B Falcon Drilling (International & Deepwater) Inc. has
been awarded a drilling contract by Petroleo Brasileiro S/A-PETROBRAS for a
three-year contract for the DP drillship "Peregrine III" for operations in
Brazil in up to 1200 meters of water. Total contract value for the three-year
term is estimated at approximately $108 million. The drillship is currently
located in Galveston, Texas, where an upgrade project consisting of
installation of a new blowout preventer stack and control system is underway.
The unit will mobilize from Galveston this month for commencement of
operations upon arrival in Brazil.
Paul B. Loyd, Jr., R&B Falcon Corporation Chairman and Chief Executive
Officer, stated, "We are very pleased to have been awarded this contract and
expand our valued and extensive relationship with PETROBRAS. We appreciate
the confidence PETROBRAS has shown in R&B Falcon by allowing us to play a
significant role in their aggressive E&P budget for the year 2000 and beyond."
R&B Falcon Corporation operates the world's largest fleet of marine-based
drilling rigs servicing the international oil and gas industry. Its fleet is
composed of 139 marine-based drilling units including the industry's largest
fleets of barge and jackup rigs, and a fleet of semisubmersibles and
drillships which is among the most capable in the world. R&B Falcon also
provides turnkey and integrated services and operates mobile production units,
internationally based land drilling rigs and an offshore towing business.
SOURCE R&B Falcon Corporation
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http://www.rbfalcon.com
Company News On-Call:
http://www.prnewswire.com/comp/118988.html or fax,
800-758-5804, ext. 118988
CONTACT:
Charles R. Ofner of R&B Falcon Corporation,
281-496-5000
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