The tender rig
T-9, in which Smedvig owns 49 percent, has been awarded a contract extension by ExxonMobil in Malaysia. The production drilling assignment
has a duration of three years. Commencement of operations is scheduled in
mid-January 2006, in direct continuation of the existing contract. The estimated contract value is approximately $66 million. ExxonMobil has the right to terminate the contract after one year.