Drilling equipment contract to Weatherford

December 19, 2005, 16:00 CET

Hydro has awarded oil services company Weatherford a frame agreement for delivery of centralizer equipment to all Hydro drilling operations in the Norwegian offshore sector.

The contract has an estimated value of just under NOK 100 million for a three-year period, with options to expand the agreement for another six years.

The equipment will be used to ensure the best possible execution of well operations.

Significant drilling activity

As an operator, Hydro has had substantial drilling activity in 2005, with three mobile rigs on the Troll field and two in the Oseberg area, as well as five drilling operations on fixed installations.

Activity will pick up even more in the Norwegian offshore sector in 2006. There will be seven mobile drilling rigs active at various times of the year, as well as six drilling operations from Hydro’s fixed installations.