Hydro awards Nkr400 million in contracts

Hydro has awarded a frame agreement valued at up to Nkr400 million for well completion services on Hydro-operated fields. The contracts are to Baker Oil Tools, Halliburton, Schlumberger, and Peak Well Solution.

Hydro has awarded a frame agreement valued at up to Nkr400 million for well completion services on Hydro-operated fields. The contracts are to Baker Oil Tools, Halliburton, Schlumberger, and Peak Well Solution.

Baker Oil Tools received a frame agreement for upper completion services on the Troll field in the North Sea. The contract includes safety valves, downhole packages, gas lift gear, and intervention tools.

The contracts with Schlumberger and Halliburton entail perforation work for all Hydro-operated fields, while the Peak Well Solution agreement is for casing plugs.

The duration of the contracts is three years, with options to extend for five years.

The delivery of well services will start immediately and be integrated into Hydro's drilling plans.

01/21/05

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