Smedvig secures new contract for T-3 in Indonesia

Smedvig has been awarded a letter of intent by ConocoPhillips for the self-erecting tender rig T-3. The production drilling assignment in Indonesia has a duration of approximately 60 days, scheduled to start mid October 2004. The contract value is estimated to approximately US$4.5 million, including mobilization and demobilization fee of US$ 1.8 million.

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