Statoil Lines Up Semisub Offshore Newfoundland

Statoil has reached an agreement to use Seadrill's West Aquarius (UDW semisub) drilling rig for Statoil's 2012-2013 exploration activities offshore Newfoundland, Canada.

"We have ambitious exploration targets offshore Newfoundland, and securing rig capacity is essential for reaching those targets," said Geir Richardsen, head of Exploration for Statoil in Canada.

"We look forward to putting this rig's capabilities into action."

Starting late 2012, Statoil will begin a three-well drilling program, offshore Newfoundland, including two exploration wells in the Flemish Pass Basin as well as an exploration well in the Jeanne d'Arc Basin.

"I am pleased that the company has acquired future rig capacity as exploration activity is a key component of Statoil's ambitions to become a producing operator offshore Newfoundland," said Kjell Magnus Myge, head of Procurement for Statoil in Canada.

The West Aquarius drilling rig is a sixth generation semisubmersible DP3 vessel built in South Korea in 2009. The vessel can operate in harsh environments up to 3,000 meters water depth. The rig has been taken on as an assignment from ExxonMobil Deepwater Rig Limited.

Statoil is an international energy company with high ambitions for international growth, and with business operations in 37 countries around the world. Statoil's North American activities are managed out of two main offices located in Houston, Texas, USA and Calgary, Alberta, Canada.

Statoil also has offices in Anchorage, Alaska, Austin, Texas, Stamford, Connecticut , Washington, D.C., Williston, North Dakota, USA and St. John's, Newfoundland, Canada.


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