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Thursday 4 November 10:08 PM

Smedvig Secures Drilling Contract Valued At $10M >SMVA

DJ Smedvig Secures Drilling Contract Valued At $10M >SMVA

Edited Press Release

OSLO (Dow Jones)--Norway's offshore drilling contractor Smedvig ASA (SMVA) Thursday said it has been awarded a letter of intent by Petronas Carigali for production drilling offshore Malaysia with the self- erecting tender rig Teknik Berkat.

The contract is values at around $10 million and has a duration of around eight months, staring Nov. 15 2004.

Teknik Berkat is owned by the Smedvig and Crest Petroleum joint venture Varia Perdana, where Smedvig has a 49% ownership share.


Later Story: Malaysia Southern Bk In Talks To Buy Life Insur Co -2 (Dow Jones)
Earlier Story: UPDATE: Thai MCOT IPO Retail Tranche Oversubscribed (Dow Jones)

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