Smedvig secures tender rig contract in West Africa

By OGJ editors

HOUSTON, Dec. 16 -- Total Congo has awarded a letter of intent to Smedvig ASA, Stavanger, to lease Smedvig's T-8 self-erecting tender rig.

The drilling assignment, in Congo, West Africa, has a firm duration of 105 days, with options for an additional 300 days. The estimated contract value for the firm period is $5.1 million, with an additional mobilization-demobilization fee of $ 4 million.

Start-up is scheduled for second quarter 2004.

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