Norwegian rig-owning interests in DDI Holding appear to have secured the re-hire of their Deep Driller 4 jack-up rig to Reliance Industries of India for $36 million.

It is understood the money signals earnings for one of a possible two six-month options set to start at a current deal’s expiry at year-end 2008.

In-line with the convoluted pattern of Norwegian yard, rig and shipping ownership, Norway-based DDI Holding is wholly owned by Sinvest which in turn is 100 percent owned by Aban Singapore and Aban International Norway.

DDI Holding has netted $89 million dollars so far in 2008, and at least one of its rigs has yet to be delivered. By 2009, the last of its jack-up newbuilds, Deep Driller 8, is set to begin earning with jack-up rates up around $180,000 per day.

Sinvest's Deep Driller rigs are operated by Premium Drilling.

Tags: Sinvest AS