New contract for GSP Orizont and GSP Atlas

May 4, 2011

GSP Orizont completed the preparative process in Lamprell Shipyard, Hamriya, UAE. The rig is heading onboard the semi-submersible heavy marine transport vessel Swan to Ciudad del Carmen, Gulf of Mexico, in order to enter the new contract.

GSP Atlas is also subject of scheduled repair and reclassification process as preparative for a new offshore drilling campaign under the new contract. The offshore drilling rig shall be transported onboard the semi-submersible barge Swift.

GSP Atlas is a cantilever type self elevating drilling rig built in 1985 and rebuilt in 2007, under GL supervision. GSP Orizont, GL classified cantilever type offshore drilling rig, has been built in 1982 and upgraded in 2010.

GSP has invested since 2005 for the modernization of GSP Atlas and GSP Orizont 66.5 USD mil.