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Smedvig awarded Canadian oil contract

A letter of intent has been awarded to Norwegian company Smedvig by Marathon Oil for the assignment of a deepwater drillship West Navion. The contract includes drilling of one exploration well to 1,800 meters of water east of Nova Scotia in Canada. The contract value including mobilization fee is approximately US$ 13 million. The estimated drilling period is 60 days. West Navion will be mobilized to Canada after completion of its drilling assignments in Europe's northern offshore areas, by the beginning of November this year. The letter of intent is subject to agreement on final contractual terms and conditions. Smedvig asa is an offshore drilling contractor headquartered in Stavanger, Norway. The company provides services within drilling and well services in the North Sea and Southeast Asia. Smedvig's main activities are divided into mobile units, platform drilling and tender rigs. Smedvig has a fleet of four modern drilling rigs, one deepwater drillship and eight tender rigs. In addition, the company holds contracts for production drilling, well services and maintenance on fixed installations.