Frame agreements for well services

January 15, 2007, 10:00 CET

Statoil has signed frame agreements for sidetrack operations and undesirable objects recovery from wells (fishing) on Statoil-operated Norwegian continental shelf licences.

The deals have been signed with Baker Hughes Norge AS, Weatherford Norge AS and supplier-of-choice, Smith International Norway AS.

The agreements run until 30 June 2009 with options for up to a further four years. Together they have an estimated value in the order of USD 80-100 million.

The agreements involve Statoil having secured access to essential equipment and personnel in relation to sidetrack operations where existing drilling holes are used to drill new wells.