New drilling contract in Malaysia for Smedvig

Smedvig has been awarded a letter of intent by Petronas Carigali for production drilling offshore Malaysia with the self-erecting tender rig Teknik Berkat. The contract has a duration of approximately eight months, from November 15, 2004. The estimated contract value is US$ 10 million.
     Teknik Berkat is owned by the Smedvig and Crest Petroleum joint venture Varia Perdana, where Smedvig has a 49 percent ownership share.