Weatherford Awarded 3-year, $8 Million North Sea Liner Systems Contract

28 Aug 2002
ABERDEEN, August 28, 2002--Weatherford International Ltd. (NYSE: WFT) today announced that it has been awarded a contract by Phillips Petroleum Company Norway for the provision of liner hanger services. The initial three-year contract is valued at more than U.S. $8 million.

Under the terms of the contract, Weatherford will supply liner hanger equipment and services to all of the Phillips operated platforms in the Greater Ekofisk area in the Norwegian sector of the North Sea. The contract is for an initial period of three years with optional extensions for up to a further four years.

Weatherford has supplied liner hanger services to Phillips Petroleum Company Norway since 1988.

Weatherford is one of the largest global providers of innovative mechanical solutions, technology and services for the drilling and production sectors of the oil and gas industry. Weatherford operates in over 100 countries and employs approximately 15,000 people worldwide.

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For further information please contact:

Karen Gillen-Allen 1-713-693-4248