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Pleased with Hydro decision

October 5, 1999, 16:00 CEST

A decision by Norsk Hydro to keep the Snorre and Visund operations organisations in their present locations has been welcomed by Statoil.

Under its agreement with Hydro over the acquisition of Saga Petroleum this summer, the group is due to become operator of these North Sea fields on 1 July 2003.

Hydro announced on 4 October that the integrated company created by taking over Saga will retain operations at all sites where it and Saga are presently located.

The operations team for Hydro's Visund field is in Bergen, where Statoil also has its Gullfaks organisation, while Stavanger is home to both Saga's Snorre organisation and Statoil's Statfjord team.

"This lays a good basis for our future acquisition of operator responsibilities on Snorre and Visund," says Henrik Carlsen, senior vice president for Exploration & Production Norway.

"Hydro's decision to maintain the Bergen and Stavanger organisations safeguards expertise and capacity for a good integration with our Gullfaks and Statfjord teams."

He adds that Statoil and Hydro are working to ensure that the operatorships can be transferred with a focus on safety, maintaining production regularity and controlling costs.