StatoilHydro: Drilling Begins at Sleipner West in the North Sea

On behalf of the licensees of Sleipner West, StatoilHydro has elected to exercise an option to commence drilling with the drilling rig West Epsilon in the North Sea field.

The option has a value of NOK 620 million, and the total value of the contract now entered into with Seadrill for Sleipner West since last summer now amounts to NOK 1.18 billion.

The option to use the jackup drilling rig West Epsilon allows StatoilHydro to drill five or six new wells at Sleipner West in the period leading up to 2010.

There is strong activity on the Sleipner West field, and new seismics will be shot this year. StatoilHydro is utilising advanced seismics to reduce risk and become more effective in its drilling operations.

The drilling campaign can contribute to increasing remaining reserves. The initiatives being implemented mean that production at Sleipner West is expected to continue well beyond 2020.

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