Platform drilling contracts extended

The extensions collectively total NOK 3 billion.

"After conducting a commercial evaluation, StatoilHydro has decided to excercise the options to extend the contracts. The suppliers challenge continues to be ensuring better HSE results for StatoilHydro, together with delivering more new wells.
The suppliers that succeed in this will be central cooperative partners for StatoilHydro in the future,” says Anders Opedal, director of procurement.

The contract extension with KCA Deutag Drilling comprises drilling services on the Brage, Njord and Oseberg platforms. The extention becomes effective 1 July 2008 and lasts for two years.

The contract extension with Seawell is for drilling services on the Gullfaks and Statfjord platforms. The extension is for two years and starts 1 October 2008.

The contract extension with Odfjell Drilling Management comprises drilling services for the Heidrun, Visund and Snorre platforms. It is also for a two-year period, beginning 1 October 2008.

“These contract extensions are important to StatoilHydro in order to insure a high degree of stability and continuity in the company’s first year. They are also an acknowledgement of the importance of having professional partners and contractors in our common effort to continuously improve the ability to deliver complete wells on all of StatoilHydro’s installations,” says Geir Slora, Vice president for Drilling & Well in StatoilHydro.