Norsk Hydro Gets OK for Barents Sea Well

Norsk Hydro has been given consent to carry out exploration drilling in the Barents Sea with the Transocean Polar Pioneer.

Well 7125/4-1 lies approximately 44 km north of the North Cape in 293 meters of water. The well belongs to production license 393, where Hydro is the operator and Eni Norge AS, BG Norge AS and Petoro AS are the other licensees.

The exploration drilling is planned to start in December 2006 and will last for approximately 40 days. Drilling in oil-bearing layers is permitted from September 1st to February 28th.

Our decision is based on the application submitted by Hydro and the additional documentation showing that the planned operations can be carried out in accordance with prevailing regulations.

Consent is granted under the conditions given in the Acknowledgment of Compliance (AoC) issued for Polar Pioneer on May 6, 2004 with the duties the AoC entails for the shipowner and operator.

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