BP Secures Rig for Skarv

BP Norge has signed a Letter of Intent with Offshore Rig Services ASA (OFRS) for drilling on the Skarv-Idun field.

This is subject to the final Plan for Development and Operation (PDO). The contract value is between US $250 million and US $500 million depending on the duration of the firm program, extensions and options.

"We are very pleased to have secured a rig for the Skarv/Idun development to deliver an extensive program. We look forward to work closely with OFRS over the next few years to ensure that the rig is delivered to the planned quality and schedule," says John Pickard, Skarv Asset Manager.

OFRS is in the construction phase for the first build of 4 new generation semisubmersible drilling rigs, being built at Yantai Raffles shipyard in China. The rigs are designed to meet the requirements for operation on the Norwegian Continental Shelf.

The first rig will be delivered in 2008. Drilling on the BP Skarv-Idun field will commence 2009.

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