The parties signed a letter of intent on Friday concerning the contract. The framework agreement which will be entered into includes providing equipment and services for well testing and cleaning on the Norwegian Continental Shelf. The service includes equipment for downhole and subsea well testing, as well as temporary production testing.
PWS bought up a section of Halliburton's well testing unit in 2004, so the contract also means a continuation of the earlier supplier collaboration with Hydro within the area of well testing.
The estimated value of the contract is 100 million NOK, for the course of its three-year term. The agreement gives the companies the opportunity to extend the contract for up to six years, divided into three two-year periods.
Significant drilling activity
In 2006, activities on the Norwegian Continental Shelf will be stepped up still further. Hydro will participate in 15 new fields under development on the Norwegian Continental Shelf, and plans to drill 40 exploration wells in the period 2006-2007.
For parts of the year, seven drilling rigs will be in use, in addition to six drilling operations taking place on the fixed installations.
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