Smedvig Asia To Exercise $61.5 Million Rig Purchase

Friday, August 17, 2001
Keppel Hitachi Zosen Ltd said on Friday that Smedvig Asia intends to exercise its option to purchase the Singapore ship repair specialist's interest in a tender rig for $61.5 million. Keppel Hitachi said in a statement that Smedvig, a unit of Norway's Smedvig ASA, proposed to exercise its option after delivery of the semi-submersible tender rig West Alliance and after commencement of drilling operations.

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