Statoil issues contracts for platform drilling services

Offshore staff

STAVANGER, Norway – Statoil (OSE:STL; NYSE:STO) has awarded contracts to three companies for drilling services on 18 fixed installations offshore Norway.

Each contract has a four-year duration, with options for three two-year extensions. The total value of the awards is more than $5 billion.

The scope includes drilling new wells, plugging old wells, and work over and maintenance of drilling facilities.

KCA Deutag will provide services for Gullfaks A, B, and C, Oseberg B and C, Sør, and Øst. Odfjell Drilling is responsible for Snorre A and B, Sleipner A, Heidrun, Njord, Visund, Grane, and Brage. Archer is responsible for Statfjord A, B, and C.

These new deals, replacing existing contracts, come into effect in October.

5/22/2012

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