Statoil to Use the Ocean Vanguard at Asgard

Statoil has been given the green light to use the Ocean Vanguard for production drilling on the Asgard field.

The consent relates to drilling of well 6506/12-J-1H on Asgard's Smorbukk field.

The plan calls for drilling to start as soon as the Ocean Vanguard has completed exploration drilling for Total, which is estimated to be in mid-April 2007. The activity on Smorbukk will last for approximately 63 days.

The Ocean Vanguard, which is operated by Diamond Offshore Netherlands BV with an operations office in Stavanger, is a Bingo 3000-type drilling facility which was completed in 1982 at Trosvik Verksted AS. The facility has subsequently undergone a number of upgrades, and it is classified by DNV.

The Ocean Vanguard received the Petroleum Safety Authority's Acknowledgement of Compliance (AoC) in July 2004.

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