Smedvig Wins Gullfaks & Statfjord Platform Services Contract

Smedvig has been awarded a letter of intent by Statoil for platform drilling services and maintenance on the Gullfaks and Statfjord fields on the Norwegian continental shelf. The drilling assignment has a firm duration of four years with option for an additional six years. The estimated value for the firm part of the contract is NOK 1.7 billion. Commencement is scheduled for September and October this year for Statfjord and Gullfaks, respectively.

Today, Smedvig employs approximately 800 people within Well Services on the Norwegian continental shelf. The contract extension for the Statfjord A, B and C platforms, where Smedvig has worked since 1982, and the new contract for the Gullfaks A, B and C platforms will significantly increase the Company's platform drilling activities for Statoil. Combined with the recently awarded platform drilling contract for Shell on the UK continental shelf, the number of people employed by the Well Services division will increase to some 1200 people.

Kjell E Jacobsen, CEO in Smedvig asa, says: "Smedvig has during the last 30 years built up significant competence within platform drilling and developed a highly skilled workforce. The new contract strengthens our position as one of the largest drilling contractors within platform drilling in the North Sea."