PSA Gives Green Light to StatoilHydro for North Sea Exploration Drilling

Petroleum Safety Authority Norway

StatoilHydro has been granted consent for exploration drilling in the Norwegian Sea with the Ocean Vanguard semisub.

The consent applies to drilling of exploration well 6407/2-4 S, and possible sidetrack well 6407/2-4 A. The well belongs to production license 074 / 074B and lies approximately 15 kilometers north of Mikkel.

The well has the following geographical coordinates: N 60 degrees 50' 55.69", E 07 degrees 38' 05.70". The water depth at the site is 250 meters.

The drilling activity is scheduled to start as soon as Ocean Vanguard has completed drilling of exploration well 6507/3-7. Estimated drilling start-up is mid-July 2009. The operation has an estimated duration of 60 days for the main well. Drilling activity of the potential sidetrack is estimated to last about 25 days.