StatoilHydro et al Sign Rig-Sharing Agreement for Henry Goodrich

StatoilHydro Canada Ltd., Husky Energy and PetroCanada today announced a rig-sharing agreement for the mobile drilling unit Henry Goodrich. The rig will operate offshore Newfoundland, Canada, for a period of 2 - 2 1/2 years with a planned start-up during the summer of 2008.

The Henry Goodrich is currently on a long term charter with StatoilHydro. The rig-sharing agreement provides the three companies with the necessary drilling capacity for their respective exploration and production drilling programs.

"This is an important milestone for StatoilHydro Canada in developing the potential of our exploration portfolio in the Grand Banks and becoming an offshore operator in Newfoundland and Labrador," says the head of StatoilHydro's Canadian offshore business, Johan Mikkelsen, "Securing additional drilling capacity for the region will open possibilities for all companies to invest in future offshore development. I am pleased that StatoilHydro has helped facilitate cooperation amongst three companies that share this goal."

There exist only a few drilling units suitable for Newfoundland waters and few of these are available. Combining the work programs of three operators in the region provides sufficient work scope to secure the drilling unit for the region.

The Henry Goodrich is owned and operated by Transocean Offshore Deepwater Drilling Inc.

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