ConocoPhillips Secures Drilling Permit for Wellbore 8/10-3

Norwegian Petroleum Directorate

The Norwegian Petroleum Directorate has granted ConocoPhillips Skandinavia AS a drilling permit for well bore 8/10-3.  Wellbore 8/10-3 will be drilled from the Maersk Gallant jackup at position 57 degrees 02'23.48" N and 3 degrees 17'01.82" E.

The drilling program for well bore 8/10-3 applies to the drilling of a wildcat well in production license 331. ConocoPhillips Skandinavia AS is the operator with 40 percent ownership interest. The other licensees are Petoro AS with 20 percent and StatoilHydro with 40 percent ownership interest. Production license 331 was awarded in APA 2004.

The area in this production license consists of the entire block 2/2, which is stratigraphicaly divided below crust Jurassic, the entire block 2/3 and parts of blocks 8/10 and 11. The permit lies northeast of the Ekofisk area in the North Sea. Well 8/10-3 is the first exploration well in the production license.

The drilling permit has been granted on the condition that all other permits and consents required by other authorities have been secured before the drilling activity commences.