Norsk Hydro Awards Drilling Contract to Odfjell

In its role as operator for several licenses, Hydro has awarded a contract for drilling in the North Sea to Odfjell Drilling. Excluding options, this contract is worth around NOK 400 million.

The Deepsea Trym will drill production wells on the Troll field, in addition to three exploration wells. It is planned that drilling will start in the first quarter of 2005 and the duration of the contract is up to 12 months. The contract includes options of up to 36 months' extension after the completion of the drilling program. This means that for some of 2005, there will be three drilling rigs at work on the Troll field. In addition to Deepsea Trym, West Venture and Stena Dee will also drill in the field.