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                                                                   EXHIBIT 20.2

                         [DIAMOND OFFSHORE LETTERHEAD]


                                                                   NEWS RELEASE 
    
FOR IMMEDIATE RELEASE                                     CONTACT: Caren Steffes
Monday, April 14, 1997                                           (281) 492-5393

                        DIAMOND OFFSHORE DRILLING, INC.
                  AGREEMENT TO A ACQUIRE ACCOMMODATION VESSEL

Diamond Offshore Drilling, Inc. (NYSE:DO) announced today that it has reached
an agreement in principle to acquire the Polyconfidence, a semisubmersible
accommodation vessel currently working in the U.K. sector of the North Sea.
Diamond Offshore's cost to acquire the vessel is expected to be approximately
$81 million payable in cash.

The Polyconfidence was constructed in 1987 and has Class III dynamic
positioning capabilities. The Company is in discussions with several oil
companies regarding conversion of the Polyconfidence to a semisubmersible
drilling unit with fourth or fifth-generation capabilities. Such a conversion
would be dependent upon the receipt of a term contract commitment at favorable
dayrates. Although the extent of the conversion would be dependent upon the
particular demands of the customer, the Company's preliminary estimate of
conversion cost is approximately $160 - $175 million. The Polyconfidence would
begin its conversion at the conclusion of its present accommodation unit
contract, which is estimated to occur no later than March 1998. Prior to
expiration of this contract, the Company will receive approximately $15,000 per
day under a bareboat charter of the vessel.

The Company expects to finance the conversion of the Polyconfidence through the
use of cash on hand or internally generated funds. The vessel purchase is
expected to be financed through a public offering of approximately 1.25 million
shares of the Company's Common Stock.

Diamond Offshore is a leader in deep water drilling. The Company owns 46 mobile
offshore drilling rigs, including 30 semisubmersibles, 15 jack-ups and one
drillship. The fleet currently operates in the waters of six of the world's
seven continents.


                             
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A written prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, as amended, related to the offering of Common Stock of Diamond
Offshore Drilling, Inc. described above may be obtained from Investor
Relations, 15415 Katy Freeway, Houston, Texas 77094, telephone (281) 492-5393.

This press release contains forward looking statements. Such statements
inherently are subject to a variety of risks and uncertainties that could cause
actual results to differ materially from those projected. Such risks and
uncertainties include, among others, general economic and business conditions,
industry fleet capacity, changes in foreign and domestic oil and gas
exploration and production activity, competition, changes in foreign political,
social and economic conditions, regulatory initiatives and compliance with
governmental regulations, customer preferences and various other matters, many
of which are beyond the Company's control. These forward looking statements
speak only as of the date of this press release. The Company expressly
disclaims any obligation or undertaking to release publicly any updates or
revisions to any forward looking statement contained herein to reflect any
change in the Company's expectations with regard thereto or any change in 
events, conditions or circumstances on which any such statement is based.