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Liner hanger contracts awarded

May 24, 2006, 09:00 CEST

Statoil has awarded contracts to Baker Tools and Weatherford Norge totalling almost NOK 300 million in value over three years.

The contracts cover delivery of equipment and services connected with liner hanging during drilling operations. If casings are not brought up to the surface, a liner can be driven from the bottom of the lowest casing to the bottom of the well.

The Baker contract will cover most of the Tampen area, as well as a smaller part of the Halten/Nordland and Troll/Sleipner areas.

The Weatherford contract will cover most of the Halten/Nordland and Troll/Sleipner areas and smaller operations at Tampen. It also covers exploration drilling from mobile installations on existing and future Statoil-operated licenses.

The contracts took effect on 1 May. There are additional extensions of two times two years.

The contracts are framework contracts so that Statoil is committed to making use of the two suppliers' services in the areas mentioned. Baker Oil Tools and Weatherford Norge are among Statoil's leading partnership companies for technological development.