Statoil Awards Transocean Searcher Mikkel Work

Statoil has awarded Transocean Sedco Forex the contract to drill and complete wells on the Mikkel Field in the Norwegian sector of the North Sea. The contract, which includes the drilling and completion of three wells, is valued at around NOK 150 million. The work will be carried out by the semisubmersible, Transocean Searcher starting in September 2002 and is expected to take 140 days.

The Mikkel field lies 37 kilometers south of the Asgard field, where Transocean Searcher has been carrying out drilling and completion operations since 1996. Statoil is exercising its option in the Asgard drilling contract to extend the work to include the Mikkel field.