Statoil to Use Ocean Vanguard Rig to Drill Exploration Well in PL 169 (Norway)

Statoil Petroleum ASA has received consent to carry out exploration drilling with the Ocean Vanguard mobile drilling facility.

The consent relates to drilling of well 25/11-26 which is part of production licence 169. The well is located in the North Sea, west of Stavanger and is situated approx. 178 km from the Stavanger airport, Sola. Water depth at the site is 130 metres.

Drilling start-up is scheduled for 4 January 2013. The activity has an expected duration of 74 days, depending on whether a discovery is made.

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Press Release, December 11, 2012