StatoilHydro and Partners sign Rig-Sharing Agreement for Henry Goodrich

    ST. JOHN'S, March 7 /CNW/ - StatoilHydro Canada Ltd., Husky Energy and
PetroCanada today announced a rig-sharing agreement for the mobile drilling
unit Henry Goodrich. The rig will operate offshore Newfoundland, Canada, for a
period of 2 - 2 1/2 years with a planned start-up during the summer of 2008.
    The Henry Goodrich is currently on a long term charter with StatoilHydro.
Today's rig-sharing agreement provides the three companies with the necessary
drilling capacity for their respective exploration and production drilling
    "This is an important milestone for StatoilHydro Canada in developing the
potential of our exploration portfolio in the Grand Banks and becoming an
offshore operator in Newfoundland and Labrador," says the head of
StatoilHydro's Canadian offshore business, Johan Mikkelsen, "Securing
additional drilling capacity for the region will open possibilities for all
companies to invest in future offshore development. I am pleased that
StatoilHydro has helped facilitate cooperation amongst three companies that
share this goal."
    There exist only a few drilling units suitable for Newfoundland waters
and few of these are available. Combining the work programs of three operators
in the region provides sufficient work scope to secure the drilling unit for
the region.
    The Henry Goodrich is owned and operated by Transocean Offshore Deepwater
Drilling Inc.

    StatoilHydro is a Fortune 50 integrated oil and gas company based in
Norway. StatoilHydro is the leading operator on the Norwegian continental
shelf and an expanding international company with operations in over
40 countries.

For further information:

For further information: Erik Abrahamsen, StatoilHydro Canada Ltd,
St.John's, NL, (709) 738-8472

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