Transocean Arctic to drill on Norne

Statoil has issued a letter of intent to drilling contractor Transocean on chartering the Transocean Arctic rig to work the Norne field and two of its satellites in the Norwegian Sea.

Statoil has issued a letter of intent to drilling contractor Transocean on chartering theTransocean Arctic rig to work the Norne field and two of its satellites in the Norwegian Sea.

Drilling will begin on behalf of the partners in production license 128. The assignment will last for 19 months, starting July 1, and will be worth NKr700 million.

Transocean Arctic's first job will be a sidetrack on Norne itself, before moving on to drill seven or eight production and injection wells on the Svale and Stær satellites.

These two fields will be developed with subsea installations tied back to the Norne production ship.

The contract with Transocean is conditional on approval of the plan for development and operation of the Norne satellites by the license partners and the Norwegian authorities.

03/12/04

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