Aker Drilling Confirms Contract Length for StatoilHydro Offshore Operations

Aker Drilling's first harsh environment, deepwater drilling unit "Aker Spitsbergen" is contracted to StatoilHydro for operations offshore Norway with firm contract duration between 3 and 10 years.

Due to longer processing in the licenses, StatoilHydro has requested Aker Drilling for a further extension in order to decide the duration of the firm contract period. Aker Drilling have therefore accepted to further extend the period until March 31st 2008. As previously communicated StatoilHydro should have declared such firm contract duration within end of December 2007. Reference is also made to press release dated January 2, 2008.

"Aker Spitsbergen" will commence its operations upon delivery from the yard Aker Kvaerner Stord end July 2008.