Smith International, Inc.announced today that M-I SWACO has been awarded a substantial multi services contract inclusive of drilling and completion fluids, drilling waste management, filtration, wellbore clean up tools, vessel cleaning and related services by Cabinda Gulf Oil Company Limited, a subsidiary of Chevron. The six year agreement (with option for two additional years) that begins June 2010 is expected to result in approximately $800 million in revenues over the life of the contract.

This contract routinely services 6 to 10 drilling rigs offshore Cabinda, Angola in Blocks 0 (shallow water) and Block 14 (deepwater). It is one of the largest individual, multi service contracts throughout West Africa. The size, duration and scope of the contract will ensure M-I SWACO’s participation and presence in the Angolan market for years to come.