PSA Grants Consent for StatoilHydro's Use of Scarabeo 5, North Sea Drilling

StatoilHydro has been granted consent to conduct exploration drilling of wells 34/8-13 S and A with the semisubmersible drilling rig Scarabeo 5.

The wells are part of production license 120 and are located in the northern North Sea on the east flank of Visund, approximately 124 kilometers west of the island Gjelsa in Askvoll municipality. The distance to Floro is 130 kilometers. The drilling activity will start in January 2009 and has an estimated duration of 130 days.

Scarabeo 5 is a semisub built in Italy at Fincantieri Shipyards Genova, completed in 1990. The semisub was granted an Acknowledgement of compliance in May 2003 and is operated by Saipem with an operations office in Stjordal.

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