Rowan Obtains Three-Year Drilling Contract Offshore Saudi Arabia

Rowan Companies announced that its Tarzan Class jack-up, Bob Keller, has been awarded a term drilling contract for work offshore Saudi Arabia. The contract provides for a three-year term, over which the Company expects total revenues of approximately $201 million, and contains an option for a fourth year. The Bob Keller recently concluded work in the Gulf of Mexico and is en route to the Middle East. The rig is expected to commence drilling operations during the second quarter of 2008.

• Odfjell Drilling to Provide Platform Drilling on Mariner 
• GSP to Provide Offshore Drilling for Dolginskoye Field 
• Drilling of Appraisal Well No.3 Begins at Sakhalin-3 
• TNK-BP Completes Offshore Drilling Project in Vietnam 
• Noble has a Discovery in Offshore Israel 
• TNK-BP Starts 1st Offshore Drilling Operations in Vietnam 
• Energy Searcher Selected for Drilling Program 
• Atwood Oceanics Orders Ultra-Deepwater Drillship 
• Hyundai Heavy Wins $1.03 Billion Drillship Order 
• Diamond Announces Order for Ultra-Deepwater Drillship 

• Rowan Obtains Three-Year Drilling Contract For Five Rigs In Saudi Arabia 
• Rowan Announces Sale of Second Generation Semi-Submersible Rig 
• LeTourneau Technologies and Lamprell Energy Contract for Newbuild Jack-up Rig Kit 
• Rowan Obtains Commitment Offshore Egypt for Newbuild Jack-up J. P. Bussell