Prosafe Wins Underbalanced Drilling Contract from Statoil

Prosafe Drilling Services has received a Letter of Intent from Statoil ASA for the supply of underbalanced drilling operations to Gullfaks C. This implies the use of new technology and highly qualified personnel.

The contract, which has a duration of two years and comprises five wells, has a value of approximately NOK 30 million.

The award of the LoI confirms that Prosafe's commitment to this growing market has been right. Drilling in underbalance is an important method for solving complex drilling problems and increasing the oil recovery from fields that already are in production. The LoI is considered a milestone, since this is the first operation that will be performed on the Norwegian Continental Shelf by use of this method.