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    Smedvig to buy remainder of rig

    News // September 7, 2001
    Smedvig in Norway has confirmed that it is to exercise the option it holds to acquire Keppel Shipyard's 72 per cent interest in the semi-submersible West Alliance.

    The rig is currently under construction.

    Smedvig says it will exercise the option after delivery and after commencement of operations under a contract with Esso Malaysia, which is due to start in November. The purchase price is $61.5 million.

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