Esso and Smedvig sign Balder contracts.STAVANGER, Norway--(BUSINESS WIRE)--Nov. 16, 1995--Esso Norge AS (ENAS) and Smedvig AS (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : SMEDY/Oslo Exchange: SME (1) (Small and Medium-sized Enterprise) See SMB. (2) (Subject Matter Expert) An individual who is well-versed in the policies and procedures of a particular department or division. ) have signed various agreements related to the potential development and operation of the Balder field. The agreements include a Purchase Agreement for Smedvig's SPU SPU Seattle Pacific University SPU Seattle Public Utilities SPU Strategy and Policy Unit SPU Sripatum University (Thailand) SPU Split, Croatia (Airport Code) SPU Synergistic Processor Unit 380 Floating Production Vessel at a price consistent with the previous Esso/Smedvig announcement, and various agreements related to joint ENAS/Smedvig teams for project and operating phases. In addition, Smedvig and ENAS have signed an agreement for the West Alpha drilling rig to drill development wells at Balder. The project team agreement covers engineering services. The duration of this agreement is about one year with Smedvig participating in the integrated project management team. Under the operating team operating team Surgery The participants–surgeons, nurses, etc–in a sterile surgical procedure performed under general–less commonly, local anesthesia agreement, Smedvig will provide various services to support this operation of the Balder field. The base duration of this agreement is five years with Smedvig participating in an integrated operations team. The drilling agreement covers the anticipated two year drilling program, with an estimated value of approximately $75 million. The SPU 380 is under construction at Far East Levingston Shipbuilding (FELS FELS Function-Embedded Listening Skills ) in Singapore and is being modified for Balder. The ship is expected to be installed at the Balder field in the fall of 1996, pending approval of the Plan for Development and Operation (PDO PDO Php Data Objects (PHP extension) PDO Protected Designation of Origin (EC) PDO Pacific Decadal Oscillation (weather) PDO Property Damage Only ) submitted to the government on 31 October 1995. CONTACT: Smedvig Ole Melberg/Ole Gladhaug +47-51-50-9900 or Esso Hugo Skandsen +47-51-60-6376 |
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