Hitt og þetta 21. apríl 2006

OCR - New CEO appointed

Stavanger, Norway

Trygve Arnesen is currently Senior Vice President for Ship Management in Odfjell ASA. He has long experience from senior management positions in the drilling industry including Prosafe (1997 - 2005) and Transocean (1990 - 1997).

In Prosafe he was Managing Director for Prosafe Offshore LTD from 2001 to 2005 and in charge of well intervention from 2000 to 2001. From 1997 to 2000 he was Managing Director for Procon Drilling Services which included eight platform drilling units and 1100 employees.

In Transocean Trygve Arnesen was Vice President Operation for platform drilling during 1997, after being Operational Manager for the Troll drilling activity from 1994 to 1996. From 1990 to 1994 he held various management positions in the operations department.

After completing his Master degree in Petroleum Engineering at NTNU in Norway, Trygve Arnesen started as a Roustabout/Roughneck and worked his way through the ranks to Rig Superintendent during eight years on platform and submersible drilling rigs in the North Sea.

The Executive Chairman, Geir Aune said: "I am very pleased to have Trygve Arnesen onboard. He has a unique combination of high level education, practical work experience in all drilling related positions on a drilling rig and many years of management experience within our industry."

The employment of Trygve Arnesen demonstrates Ocean Rig's long term commitment to develop the company and create a strong team of professionals as part of a permanent and normal management structure, following the successful turn-around of the company.

Ocean Rig owns and operates two of the world's largest and most modern drilling rigs, built for ultra deep waters and extreme weather conditions. The units are currently operating offshore Congo and Norway.