The 59,610-gt Ocean Rig Poseidon (built 2011) will work off West Africa until the second quarter of 2017.

When Eni initially hired the vessel in 2013, the daily rate was thought to be slightly over $615,000.

Ocean Rig said its contract backlog has been increased by $187m after the latest extension.

This suggests an adjusted daily rate of slightly over $500,000 for the Ocean Rig Poseidon.

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