By OGJ editors
HOUSTON, Apr. 21 -- Statoil ASA signed a letter of intent valued at 700 million kroner for Transocean Sedco Forex Inc. to provide drilling and completion work on the Snøhvit field in the Barents Sea. The contract award is subject to the approval of the other Snøhvit license partners.
The contract covers drilling and commissioning of the 10 wells in Phase I development on Snøhvit and Albatross fields.
The Polar Pioneer rig will carry out the work, which is due to start in autumn 2004 and be completed in spring 2006, reported Thor Bensvik, manager for Snøhvit drilling and well operations.
