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    Smedvig secures new contract for West Navigator

    Contracts, Tenders and Rates // June 20, 2003
    Smedvig has been awarded a letter of intent by the Australian oil company Woodside for the assignment of the deepwater drillship West Navigator.

    The contract includes the drilling of two wells offshore Mauritania in West Africa, with options for additional four wells.

    The contract value for the firm period is approximately US$ 11 million. Thedrilling period is estimated to somewhat more than two months, whichwill keep the unit continuously employed until November/December2003.

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