Transocean Winner to Drill Exploration Wells in Block 25/11 Offshore Norway

Norsk Hydro Produksjon AS (Hydro) has received consent to conduct exploration drilling at two wells in block 25/11 using the Transocean Winner.

The wells are part of production license 169 operated by Hydro with Statoil ASA, Exxon Mobil Exploration and Production Norway AS and Petoro AS as the other licensees.

The two wells (25/11-25 S and 25/11-25 A) will be drilled from the same position into two independent formations. One of the wells will be drilled as a sidetrack of the well that is drilled first.

The wells are located in the North Sea, approx. 160 km west of Karmoy.

The Transocean Winner is a semisubmersible built in 1983 at the Gotaverken Arendal yard in Sweden.

Transocean received an Acknowledgement of Compliance (AoC) for the rig in August 2006.

The plan is to start the drilling activity on October 15, 2007, at the earliest. The drilling is expected to have a duration of 90 days.

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