Smedvig Secures New Contract for T-6 and Teknik Berkat

The self-erecting tender rigs T-6 and Teknik Berkat, in which Smedvig owns 49 percent, have been awarded a letter of intent by Petronas Carigali Sdn. Bhd. in Malaysia. The production drilling assignments have a duration of two years and 600 days for T-6 and Teknik Berkat, respectively.

Commencement of operations for T-6 is scheduled for the beginning of December 2005. For Teknik Berkat, start-up is November 17, 2005. The estimated contract value is approximately US$ 43 million and US$ 31 million for T-6 and Teknik Berkat, respectively.

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