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Stena contract extended

July 17, 2006, 10:00 CEST

A charter with Stena Drilling for the Stena Don semi-submersible has been extended by Statoil for three years plus a one-year option.

Worth a total of just under NOK 4 billion, including the option, this contract will come into effect in December.

“The rig market is tight because of the high level of exploration on the Norwegian continental shelf,” observes Gunnar G Opsahk, sub-surface head for the Halten/Nordland business cluster.

“Extending our charter with Stena Drilling secures us access to rig capacity for our drilling and completion activities for a long time to come.”

Plans call for Stena Don to drill wells on the Heidrun, Norne and Åsgard wells in the Norwegian Sea.