Statoil secures jack up for Troll-Sleipner

Statoil ASA has let a contract to SeaDrill Ltd., Hamilton, Bermuda, for the West Epsilon jack up for exploration and production drilling in the Troll-Sleipner area of the North Sea.

June 21, 2006

By OGJ editors
HOUSTON, June 21 -- Statoil ASA has let a contract to SeaDrill Ltd., Hamilton, Bermuda, for the West Epsilon jack up for exploration and production drilling in the Troll-Sleipner area of the North Sea.

The contract is for up to 4 years, starting in November. It is valued at 1.5-2 billion kroner, depending on whether Statoil chooses a 2-year charter with an option to extend for an additional 2 years, or a 3-year charter, with an option for a 1-year extension. Statoil has 30 days to decide.

The rig, designed to operate in water as deep as 120 m, is currently on assignment for BP PLC.