Diamond Offshore Granted Contract of Three

Diamond Offshore Drilling Inc. has received three drilling contracts awarded by Mexico's state-owned oil company Petroleos Mexicanos S.A. (PEMEX) for three of its semisubmersible rigs.

The work, which is expected to generate total combined revenues of approximately $272 million, will take place in the Gulf, offshore Mexico, and is scheduled to begin in late July 2003.

The Ocean Worker, now completing a job in the U.S. Gulf of Mexico, will be contracted for 1,462 days. The Ocean Ambassador, currently idle in the U.S. Gulf, was awarded a contract for 1,601 days. And the Ocean Whittington, presently idle in Ghana, received a contract for 1,167 days.