Norsk Hydro Extends Prosafe Contract on Snorre

Prosafe has received confirmation that Norsk Hydro will exercise the first of two 2-year options for platform drilling on both Snorre TLP and Snorre B. The option period lasts from October 1, 2002 to October 1, 2004, and has an estimated value of NOK 290 million. Prosafe Drilling Services has been responsible for the platform drilling on Snorre TLP since 1990 and on Snorre B since 1999.