Norway’s Smedvig Awarded Rig Contracts from Petronas

Smedvig, Norwegian offshore oil driller, has been awarded two rig contracts by Petroliam Nasional Bhd (Petronas) in Malaysia on 17 November 2005. This transaction is worth US$74 million.
         In a statement posted on Smedvig’s website, the company said the self-erecting tender rigs T-6 and Teknik Berkat, in which Smedvig owns 49 per cent, have been awarded a letter of intent by Petronas Carigali Sdn Bhd, the exploration arm of Malaysia’s national oil company.
         The production drilling assignments have duration of two years and 600 days for T-6 and teknik Berkat, respectively.
         Commencement of operations for T-6 is scheduled for the beginning of December 2005, while for Teknik Berkat, the start-up was on 17 November 2005.
         The estimated contract value is US$43 million and US$31 million for T-6 and Teknik Berkat respectively.

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