Smedvig's West Delta is Awarded a Contract Extension

Smedvig has signed an agreement with Norsk Hydro to extend its existing contract for the semisubmersible drilling rig West Delta. The drilling assignment has a duration of six months until the beginning of July 2001, and is in direct continuation of the existing drilling contract for West Delta. The contract value for the drilling assignment is estimated at approximately USD 20 million.
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