Contract Extension On the Statfjord Field.Business Editors STAVANGER, Norway--(BUSINESS WIRE)--April 9, 2002 Statoil has extended the platform drilling contract with Smedvig for the North Sea Statfjord field. The contract extension is for a further two years until September Until September is a 1984 romantic drama set in France. It stars Karen Allen as an American tourist in Paris who falls in love with a married Frenchman (Thierry Lhermitte). External links 2004. The contract includes production drilling, maintenance and well operation support for the three Statfjord platforms. The estimated value of the contract extension is approximately USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 44 million. Smedvig has performed drilling and maintenance operations on the Statfjord field since 1987. Previously, Smedvig was involved on the Statfjord C platform from 1982 and on the Statfjord A and B platforms from 1986. The contract extension is scheduled to start in direct continuation of the current contract period, providing work for about 250 people. Smedvig asa is an offshore drilling Offshore drilling typically refers to the act of extracting resources, primarily oil, in an ocean or lake. Controversy As with all oil drilling, there has been a certain level of controversy surrounding the issue. contractor headquartered in Stavanger, Norway. The company provides services within drilling and well services Well services is a department within a petroleum production company through which matters concerning existing wells are handled. Having a shared well services department for all (or at least multiple) assets operated by a company is seen as advantageous as it allows the pooling of in the North Atlantic and Southeast Asia. Smedvig's main activities are divided into mobile units, tender rigs and platform drilling. Smedvig has a fleet of four modern drilling rigs, one drillship and nine tender rigs. It addition, the company holds contracts for production drilling, well services and maintenance on fixed installations. This press release includes forward-looking statements under the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Actual performance could differ materially from that anticipated in the forward-looking comments, as a result of risks, uncertainties and other factors, as set forth in the annual report on Form 20-F dated June 14, 2001. A copy of the Form 20-F is available upon request from the Company or on our web-site www.smedvig.no. Smedvig asa P.O. Box 110, 4001 Stavanger Phone: +47 51 50 99 00 Fax: +47 51 50 96 88 Web site: www.smedvig.no -------------- E-mail: smedvig@smedvig.no |
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