Statoil Gets Green Light to Use Transocean Leader for Tampen IOR

Statoil has received consent to use the Transocean Leader to carry out production drilling on Skinfaks/Rimfaks IOR (Increased Oil Recovery), as well as for drilling, completion and intervention operations on Gullfaks Satellites.

Skinfaks/Rimfaks IOR (SRI) is located in blocks 34/10 and 33/12 on Tampen.

In connection with development of SRI, the Transocean Leader will drill and complete five production wells.

The earliest estimated start-up of drilling is December 2005, but it could be as late as in March 2006, depending on the progress of the Transocean Leader's current activities.

The Transocean Leader is a semisubmersible owned and operated by Transocean. It was delivered from Hyundai Heavy Industries in Korea in 1987. The rig received the Petroleum Safety Authority Norway's Acknowledgement of Compliance (AoC) in December 2004.

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