StatoilHydro Receives Consent to Drill in the Barents Sea

StatoilHydro has received consent to conduct exploration drilling of well 7224/6-1 (Arenaria) with the semisub Polar Pioneer.

The well belongs to Production License 394, which is located about 162 km north of the North Cape and has a water depth of 267 meters.

Polar Pioneer is operated by Transocean Offshore and received an Acknowledgement of Compliance (AoC) in May 2004.

Planned start-up of drilling is at the beginning of July 2008, as soon as Polar Pioneer has concluded drilling operations on Ververis for StatoilHydro. The activity is expected to have a duration of 50 days.

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