Smedvig Secures New Contract for T-9 in Malaysia

The tender rig T-9, in which Smedvig owns 49 percent, has been awarded a three-year contract extension by ExxonMobil in Malaysia for production drilling work.

Commencement of operations is scheduled in mid-January 2006, in direct continuation of the existing contract. The estimated contract value is approximately US $66 million. ExxonMobil has the right to terminate the contract after one year.

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