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Pride awards Mad Dog contract

Maritime Activity Reports, Inc.

February 25, 2004

Pride International awarded Signal International LLC a contract to outfit and integrate the drilling equipment for BP's Mad Dog truss spar production facility in Green Canyon Block 782. The drilling support module (DSM) for Mad Dog arrived at Signal's Port Arthur, Texas, facility on Feb. 1. The derrick equipment set will be mated to the DSM following its scheduled mid-March arrival at the facility. The unit will then be integrated and commissioned with final load-out and redelivery anticipated in mid-May. Pride is operator of the drilling rig. J. Ray McDermott is constructing the 16-slot truss spar, which will include the rig, production equipment and permanent quarters for drilling and production personnel. The facility will have production capacity of 80 million b/d of oil and 40 MMcfs/d of natural gas. The Mad Dog spar is scheduled for completion this year".

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