Statoil Hires Ocean Vanguard, Scarabeo 5 for NCS Work

Norwegian Continental Shelf
(Click to Enlarge)

Ocean Vanguard
(Click to Enlarge)

Scarabeo 5
(Click to Enlarge)

Statoil has signed new contracts for the hire of two rigs on the Norwegian continental shelf. The contracts have been signed with Diamond Offshore for the hire of Ocean Vanguard and with Saipem for the hire of the rig Scarabeo 5.

"In December last year we announced that we expected the market to revert to the lower 2006 level and now it has responded to our expectations. We are pleased to have gained more reasonably priced rig capacity so that we can further develop the shelf," said Anders Opedal, Statoil's senior vice president for Procurement.

  • The Ocean Vanguard deal is valued at US $382 million. It has duration of three years with a one-year option.
  • The deal for Scarabeo 5 is valued at US $437 million and also has a three-year duration and one-year option.

These rates set a new price level for rigs in the exploration and completion segment.

"The two rigs are well known for their contributions to our operations on the shelf. The flexibility provided by these rigs in terms of conventional drilling, completion, high pressure, high temperatures and deep water are in line with our plans for exploration and production in the future," said Oystein Michelsen, Statoil's executive vice president for Exploration & Production Norway.

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
Drilling Supervisor - Land
Expertise: Company Man|Drilling Consultant|Drilling Foreman / Drilling Supervisor
Location: Opportunities Throughout the Lower 48
Completions Supervisor
Expertise: Company Man|WellSite Supervisor|Workover or Completion
Location: Richmond, TX
QC Inspector (Electrical)
Expertise: QA / QC / Inspection
Location: Baton Rouge, LA
search for more jobs

Brent Crude Oil : $50.47/BBL 0.98%
Light Crude Oil : $49.72/BBL 1.09%
Natural Gas : $2.76/MMBtu 1.09%
Updated in last 24 hours