Lundin Petroleum has exercised an option for a semi-submersible drilling rig owned by George Economou's Ocean Rig, tying it up until the end of September.

The Norwegian oil company took up the one-well option on the Leiv Eiriksson (built 2001), which operates in 2,290-metre water depths, Ocean Rig said.

It is the third option that Lundin has exercised on the rig.