Saipem Wins Contract to Drill on Kristin Field

Statoil has entered into an agreement with Saipem to use the Scarabeo 5 semisubmersible for 36 months on the Kristin Field. The total value of the contract is NOK 1,280 million.

"Scarabeo 5 has the capacity to perform both drilling and completion operations and is a good rig for Kristin," reports Bengt Rasmussen, drilling manager on Kristin. The rig will however require some upgrading and a five-year class certificate before commencing drilling operations on April 1, 2003. Scarabeo 5 was built in Italy in 1990 and has been operating on the Norwegian continental shelf since delivery from the shipyard.

The pressure and temperature are both higher on the Kristin gas and condensate field than on any other field to be developed on the NCS. There has therefore been an increased focus on health, safety and the environment in the bidding process.

The licensees in Kristin are Statoil with 46.6 percent, Petoro with 18.9 percent, Norsk Hydro with 12 percent, ExxonMobil with 10.5 percent, Agip with 9 percent and TotalFinaElf with the remaining 3 percent.

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