StatoilHydro exercises contract extensions

StatoilHydro has chosen to exercise contract extensions for integrated drilling services with Schlumberger, Baker Hughes Inteq, and Halliburton for deliveries on the Norwegian continental shelf.

Offshore staff

OSLO -- StatoilHydro has chosen to exercise contract extensions for integrated drilling services with Schlumberger, Baker Hughes Inteq, and Halliburton for deliveries on the Norwegian continental shelf.

The option periods are two years, which are based on established contracts. The total annual value of exercising these options is just under $376 million.

Along with directional drilling, the contracts also cover mud logging, logging while drilling, measurement while drilling, jars, hole openers, drill bits, and associated services.

08/21/2008

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