Statoil Signs $437M Stena Don Drilling Rig Contract

DOW JONES NEWSWIRES Statoil said Monday it has signed a $437M three-year contract with Stena Drilling for hire of the Stena Don drilling rig. MAIN FACTS: -Plans call for the semi-submersible rig to be used for drilling on the Norwegian continental shelf (NCS). -The rig was also under contract with Statoil from 2001 to December 2009. -The schedule of work for the rig is being considered by relevant licences on the NCS. The rig will play an important role in Statoil's efforts to reach its NCS production targets. -By Stockholm Bureau, Dow Jones Newswires; +46-8-5451-3090; djnews.stockholm@dowjones.com (END) Dow Jones Newswires June 28, 2010 03:45 ET (07:45 GMT)