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SONAT OFFSHORE DRILLING INC. ANNOUNCES INDIAN TURNKEY DRILLING CONTRACT

 SONAT OFFSHORE DRILLING INC. ANNOUNCES
 INDIAN TURNKEY DRILLING CONTRACT
 HOUSTON, Feb. 13 /PRNewswire/ -- Sonat Offshore Drilling Inc. announced today that it has entered into a contract with Oil & Natural Gas Commission of India (ONGC) to drill four turnkey wells in the Gulf of Cambay. The value of the four-well contract is approximately $27 million, and ONGC has the option to drill up to four additional wells under comparable terms. Sonat Offshore will use its shallow-water jack-up drilling rig OFFSHORE JUPITER for the project and expects drilling operations to begin in May 1992. Under the terms of the turnkey contract, Sonat Offshore will provide drilling services and equipment for a fixed price for each well. Although turnkey drilling contracts involve more risks, they offer greater profit potential than traditional dayrate drilling contracts.
 ONGC is an agency of the government of India responsible for oil and gas exploration, production and marketing.
 Sonat Offshore, one of the world's most experienced turnkey drilling contractors, has successfully completed more than 80 turnkey wells offshore Brazil and in the Gulf of Mexico and is currently drilling turnkey wells in the United States and Mexico. Sonat Offshore is a subsidiary of Sonat Inc. (NYSE: SNT). Sonat, headquartered in Birmingham, Ala., is a worldwide energy company involved in natural gas transmission and marketing, oil and gas exploration and production, and oil services.
 -0- 2/13/92
 /CONTACT: Bruce Connery of Sonat, 205-325-3898/
 (SNT) CO: Sonat Offshore Drilling Inc.; Sonat Inc. ST: Alabama, Texas IN: OIL SU:


BR-BN -- AT004 -- 9621 02/13/92 09:59 EST
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Publication:PR Newswire
Date:Feb 13, 1992
Words:257
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