Statoil Signs Frame Deals for Well Services

Statoil has signed frame agreements for sidetrack operations and undesirable objects recovery from wells (fishing) on Statoil-operated Norwegian continental shelf licenses.

The deals have been signed with Baker Hughes Norge AS, Weatherford Norge AS and supplier-of-choice, Smith International Norway AS.

The agreements run until June 30, 2009, with options for up to a further four years. Together they have an estimated value in the order of US$80-100 million.

The agreements involve Statoil having secured access to essential equipment and personnel in relation to sidetrack operations where existing drilling holes are used to drill new wells.

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