Norwegian Agency OKs 2 Exploration Wells for StatoilHydro

The Norwegian Petroleum Safety Authority StatoilHydro has received consent to drill exploration well 7125/4-2 (Nucula) with the Transocean's Polar Pioneer semisub. The well is part of production license 393. The closest distance to land is 46 kilometers. The water depth at the site is 294 meters.

The drilling of well 7125/4-2 will be initiated as soon as Polar Pioneer has finished the drilling operations on well 7222/11-1. The plan is to commence drilling in September/October 2008. The activity has an estimated duration of 32 days.

StatoilHydro has also received consent to drill exploration well 2/5-13 with the West Epsilon jackup in the southern North Sea. The well is located in the southern North Sea approximately 20 kilometers northeast of the Ekofisk Center. The well is part of production license 296/355 and water depth at the site is 65 meters.

The plan is to commence drilling in September 2008, after West Epsilon has finished a stay at the yard in Olen. The drilling activity is expected to take 139 days.

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