By OGJ editors
HOUSTON, Jan. 19 -- Norsk Hydro AS has extended for 2 years a drilling contract with Stavanger-based Smedvig ASA for use of the West Venture semisubmersible drilling rig, which has operated in Troll field for the last 4 years. The $150 million contract contains annual renewal options for 5 more years and includes incentives for drilling performance.
West Venture is equipped with a dual derrick set. The new contract goes into effect August 2004, continuing the current Norsk Hydro assignment.