DeepOcean Wins Decommissioning Work on Frigg Field

DeepOcean ASA has been awarded a Letter of Intent from Total E&P Norge AS for decommissioning work on the Frigg field. The value of the contract is approximately NOK 48 million.

Estimated start-up date is April 1, 2006 and the length of the work is approximately 90 days. The contract is an extension of the work DeepOcean ASA has done on the Frigg field during 2005.

The Frigg field, located on the border between the Norwegian and British continental shelves started production in September 1977. The gas was transported to St. Fergus in Scotland and sold to customers in the UK. At the beginning of the 1980s the Frigg field supplied the UK market with as much as one third the country's natural gas requirements. Frigg stopped producing October 26, 2004.

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Brent Crude Oil : $48.06/BBL 2.51%
Light Crude Oil : $45.77/BBL 2.17%
Natural Gas : $2.97/MMBtu 2.30%
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