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    Norsk Hydro extends contract for rig

    Contracts, Tenders and Rates // June 29, 2001
    Norsk Hydro has exercised an option for the use of the modularised drilling and intervention rig Rubicon on Snorre TLP. The rig is owned and operated by Procon Drilling Services AS, a wholly owned subsidiary of ProSafe ASA.

    The option period which has a duration of one year as from 15 August has a value of approximately NOK 120 million, and is the first of two one year option periods under this contract which includes side track drilling, completion and well intervention.

    Procon Drilling Services has been engaged on Snorre TLP since 1990, and also holds the platform drilling contract on Snorre B.

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