Statoil Awards Asgard Repair Contracts

On behalf of its partners in the license, Statoil has entered into contracts with Stolt Offshore and Halliburton, on a joint venture basis, for repairs to the welds in the Norwegian Sea's Asgard field.

The contract, which is worth NOK 800 900 million, covers repair work and chartering of the MSV Regalia and Semi II rigs. In addition, King Fisher will be hired as a support vessel. The contract covers repairs of 42 welds. The work now assigned will continue until May 1, 2002.


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