StatoilHydro Gets Green Light for Barents Sea Exploration

StatoilHydro has received consent to drill exploration well 7222/6-1 with the semisub Polar Pioneer.

We have given consent on the basis of, inter alia, documentation submitted in connection with the application and documentation related to the Acknowledgement of Compliance (AoC) for Polar Pioneer, issued April 6, 2004, with the assumptions and obligations the Acknowledgement of Compliance represents for the shipowner and operator.

Well 7222/6-1 is located in production license 228 and the water depth at the site is 364 meters. Estimated drilling time is approximately 50 days.

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