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Five-year drilling contract for Aker

April 1, 2008, 18:06 CEST

The contract was awarded in December 2006, but StatoilHydro has had until now to decide the final length of the fixed part of the contract, beyond a minimum period of three years.

The Aker Drilling rig "Aker Spitsbergen" will be used for drilling assignment at Halten Nordland in the Norwegian Sea. The rig, which belong to Aker Drilling's sixth generation rigs, are designed for assignment on the Norwegian continental shelf, where deep waters and tough weather pose extra challenges.

During full utilisation of the rig the total contact value over five years will be about NOK 5 billion, based on an exchange rate of NOK 5.10 to the US dollar.

The construction of the rig is now in full progress at the Aker Kværner yard at Stord. "Aker Spitsbergen" is scheduled to be delivered at the end of July 2008.