Ocean Vanguard to Spin Bit Northeast of Snorre in December

Statoil has received consent to conduct exploration drilling in the northern North Sea using the Ocean Vanguard semisubmersible drilling rig.

The consent relates to the drilling of well 34/4-12 S and sidetrack 34/4-12 A. The well is part of production license 057 and is located northeast of Snorre.

The well has the following geographical coordinates: N 61° 33' 08.1", E 02° 17' 37.7". The water depth at the site is 382 meters.

According to the application for consent, the drilling activity will commence in December 2009 as soon as Ocean Vanguard has concluded the drilling of exploration well 6507/3-8. The activity has an estimated duration of 78 days.