Statoil Extends Smedvig's Statfjord Field Contract

Statoil has extended the platform drilling contract with Smedvig for the North Sea Statfjord field. The contract extension is for a further two years until September 2004. The contract includes production drilling, maintenance and well operation support for the three Statfjord platforms. The estimated value of the contract extension is approximately US $44 million.

Smedvig has performed drilling and maintenance operations on the Statfjord field since 1987. Previously, Smedvig was involved on the Statfjord C platform from 1982 and on the Statfjord A and B platforms from 1986.

The contract extension is scheduled to start in direct continuation of the current contract period, providing work for about 250 people.