Lundin/Marathon agree drilling timeshare

Offshore staff

OSLO, Norway --Lundin Petroleum and Marathon Petroleum have contracted the semisubmersible Songa Dee for a two-year drilling program on the Norwegian shelf. The rig, which will be shared on a 50-50 basis, is due to start working for the two companies late in 2008 or early 2009, with the option for further extensions of up to one year.

Lundin is keen to drill its portfolio of exploration and appraisal prospects, to increase its Norwegian reserves and production. The company will also seek to acquire further licenses in forthcoming Norwegian licensing rounds, according to CEO Ashley Heppenstall.

01-04-2007