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Well contracts awarded

January 20, 2006, 15:00 CET

Contracts for drilling and well services with a total value of NOK 855 million have been given by Statoil to Aker Kværner Well Service, Welltec and Schlumberger. The agreements will run for three years.

All three contracts embrace Statoil's entire operations on the Norwegian continental shelf and have two options for two-year extensions.

Schlumberger will supply personnel and cable logging services. This contract, worth about NOK 200 million annually, covers services such as logging and sample-taking in open wells, as well as production logging and perforation by cable.

The contracts with Aker Kværner and Welltec cover deliveries of personnel and equipment for well tractor services. A well tractor is an electrical device used to insert various instruments into horizontal wells.

The deal with Aker Kværner covers the Statfjord field in the North Sea and the Halten/Nordland area in the Norwegian Sea and is worth about NOK 45 million per year.

The agreement with Welltec, worth about NOK 40 million annually, covers the Tampen area (excluding Statfjord) and the Troll/Sleipner area in the North Sea.