Contract to Halliburton

December 10, 2001, 14:15 CET

Operator Statoil has awarded Halliburton Subsea the contract for the installation of umbilicals, glycol lines and subsea structures on the Mikkel field in the Norwegian Sea.

The contract is worth roughly NOK 140 million and includes options to increase further the scope of work. A decision on this will be made at a later date.

Mikkel lies on the Halten Bank, 35 kilometres south of the Midgard deposit in the Åsgard licence. The field will be developed with a subsea installation consisting of two templates. Most of the operations on the field will take place in the summer of 2002.

The wellstream will be transferred via Midgard to Statoil's Åsgard B platform and then transported through the Åsgard Transport trunkline to the gas processing plant at Kårstø, north of Stavanger.

Plans call for the Mikkel field to start production on 1 October 2003. The licensees in the field are Statoil with 56.52 per cent, ExxonMobil with 33.48 per cent and Norsk Hydro with 10 per cent.