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SONAT OFFSHORE DRILLING ANNOUNCES LETTER OF INTENT FOR LONG-TERM CONTRACT FOR SEMISUBMERSIBLE RIG

 HOUSTON, July 7 /PRNewswire/ -- Sonat Offshore Drilling Inc. (NYSE: RIG) announced today that Polar Frontier Drilling A/S, a Norwegian partnership in which Sonat Offshore Drilling owns a 47.5-percent interest, has been awarded a letter of intent for a long- term contract for its fourth-generation semisubmersible drilling rig, the POLAR PIONEER.
 The letter of intent was received from Norsk Hydro for development of the Troll Field offshore Norway. The primary term of the contract extends from April 1994 to 1997, with options to the year 2001. Dayrates approximate $90,000 for the primary term and $120,000 to $140,000 for the option periods.
 Sonat Offshore Drilling is a worldwide offshore drilling company engaged in contract drilling for oil and gas wells. Headquartered in Houston, the company has set deep-water drilling records and is recognized as an industry leader in deep-water, harsh-environment and turnkey drilling.
 The other partners in the joint venture are Wilh. Wilhelmsen Limited A/S and North Norway Drilling Company A/S.
 -0- 7/7/93
 /CONTACT: Robert L. Long of Sonat Offshore Drilling Inc., 713-871-7619/
 (RIG)


CO: Sonat Offshore Drilling Inc. ST: Texas IN: OIL SU: CON

BR-RA -- AT005 -- 9032 07/07/93 11:06 EDT
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Publication:PR Newswire
Date:Jul 7, 1993
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