PSA Okays ConocoPhillips' Use of Port Reval as Eldfisk Living Quarters

ConocoPhillips Skandinavia AS (COPSAS) has received consent from PSA Norway to use the mobile facility Port Reval as a living quarters facility on the Eldfisk field.

In connection with simultaneous drilling operations, maintenance and modifications on Eldfisk, COPSAS still needs additional beds. The Company has previously received consent to use Port Reval on Eldfisk up to August 2008.

Port Reval is located southwest of Eldfisk 2/7-E with a gangway connection to this facility, and will be used as a flotel on the field up to May 2009.

Port Reval is operated by OSM Offshore AS (OSM). The facility received an Acknowledgement of Compliance (AoC) from the PSA on August 3, 2007.