Hydro Completes Peon Re-entry

Hydro has completed a re-entry operation in the Peon gas discovery on the Norwegian Continental Shelf.

The operation in the discovery well 35/2-1 R was completed with the drilling rig Deepsea Trym. Evaluation based on the well construction prior to a planned production test concluded with a postponement of the testing during the operation.

A program to further increase the understanding of the field is now under way, in order to seek an optimal field development solution: Additional data-acquisition and planning activities are in progress and a seismic acquisition program will be completed later this fall.

The gas field located in production license 318 was discovered by Hydro in the North Sea in August 2005, about 100 kilometers west off the coast of Sogn og Fjordane county in Norway.

Peon is operated by Hydro. Co-owners are Petoro and Idemitsu.

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