Smedvig Wins Contract from ConocoPhillips for T-3

Smedvig has been awarded a letter of intent by ConocoPhillips for the self-erecting tender rig T-3. The production drilling assignment in Indonesia has a duration of approximately 60 days, scheduled to start mid October 2004. The contract value is estimated to approximately US $4.5 million, including mobilization and demobilization fee of US $1.8 million.