Statoil Extends Production Drilling Contracts

Statoil has chosen to exercise options in existing contracts with Odfjell Drilling Managment, KCA Deutag Norge and Seawell for production drilling and maintenance services.

The options allow Statoil to extend five contacts which expire in 2010 by two years.

The contracts cover services on 17 of Statoil's 20 fixed installations on the Norwegian continental shelf.

The total value of all exercised options is about NOK 3.6 billion.

"Statoil intends to continue its efforts to increase the quality of all deliveries. Continuity of the cooperation with key contributors will provide a basis for the desired HSE level and improved efficiency," said Geir Slora, senior vice president, drilling & well.

Senior vice president for procurements in Statoil, Anders Opedal, looks forward to continuing the partnership with Odfjell Drilling Managment, KCA Deutag Norge and Seawell.

"It is essential that our suppliers help contribute positively to our goal of improved efficiency and progress. As always, we expect our suppliers to deliver on schedule, according to quality and HSE requirements," Opedal said.



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