Statoil Extends Contract with Ocean Vanguard

Statoil is extending the contract with Diamond Offshore Netherlands BV for the Ocean Vanguard. The contract is worth NOK 1.8 billion.

Lasting for two years, the contract includes an option for Statoil to extend the contract. The contract takes effect in April 2008. The rig will mainly be used for exploration drilling in the North Sea and in the Halten/Nordland area of the Norwegian Sea.

"We are very pleased that we have secured Ocean Vanguard for another two years. This will make it possible to maintain the high exploration activity on the Norwegian continental shelf for a long time," says Tim Dodson, senior vice president for exploration in Statoil.

The Marshall Islands-registered semi-submersible Ocean Vanguard was built in Brevik, Norway in 1982 and is a third-generation rig. It is designed for drilling in water depths of down to 450 meters (1,500 feet). The drilling depth is stated to be maximum 7,600 meters (25,000 feet).

The rig has been chartered by Statoil since 2004. Ocean Vanguard is currently drilling a well off Mid-Norway for Shell, which Statoil has a rig collaboration with.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Field Maintenance Controls Technician
Expertise: Maintenance Technician|Rig Mechanic
Location: Eighty Four, PA
Maintenance Supervisor - Drilling
Expertise: Maintenance Manager|Rig Mechanic
Location: Eighty Four, PA
Whipstock Welder
Expertise: Rig Welder|Welding|Workshop
Location: Lafayette, LA
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours