Hydro secures Troll drilling capacity

Hydro has contracted two newbuild semisubmersible rigs from Awilco Offshore for production drilling on the Troll field in the Norwegian North Sea. The WilInnovator and the WilPromotor will start work on the field in mid-2009 and spring 2010, respectively.

Offshore staff

OSLO, Norway --Hydro has contracted two newbuild semisubmersible rigs from Awilco Offshore for production drilling on the Troll field in the Norwegian North Sea. The WilInnovator and the WilPromotor will start work on the field in mid-2009 and spring 2010, respectively.

Currently, Hydro has three rigs drilling development wells on Troll, all of which are contracted through 2009.

The two new units, to be built at the Yantai Raffles shipyard in China, will replace two of these rigs – Hydro has committed to five-year contracts in both cases, with the option of extending the duration to eight years. National Oilwell Varco will construct the drilling equipment sets in Norway.

To date, Hydro has drilled 113 wells in Troll's thin oil zones, with a total of 300 producing well branches. Its long-term aim is to increase oil recovery by 30%, to over 2 bbl.

3/30/2007

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