Smedvig Wins New Contract for West Alliance in Malaysia

Smedvig has been awarded a contract by Shell Sarawak for the semi-tender rig West Alliance in Malaysia. The production drilling assignment has a firm duration of 12 months with option for six additional months. Commencement of operations is scheduled for mid January 2005. The firm contract value is estimated at approximately US$ 23 million plus mobilization- and demobilization fee.

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