Equinor To Drill Up To Nine Wells Using COSLPromoter Rig

Equinor To Drill Up To Nine Wells Using COSLPromoter Rig
Equinor has awarded COSL Offshore Management a contract to drill four wells on Statfjord Øst field off Norway using the COSLPromoter rig.

Norwegian oil company Equinor has awarded COSL Offshore Management a contract to drill four wells on Statfjord Øst field off Norway using the COSLPromoter rig.

Equinor said on Thursday that the contract, scheduled to start in the spring of 2023, is for four firm wells. It also has options for drilling five wells for Statfjord satellites afterward. The value is around $56 million for the fixed part of the contract, which has an estimated duration of 220 days.

The value includes drilling and completion services, fuel, treatment of wastewater, handling of cuttings, and upgrading of the rig by installing an automatic drilling control system. Additional services include running of the casing, remote-operated vehicle, mobilization, and demobilization, calculated at around $4 million.

According to Equinor, after the preliminarily planned work program has been completed, the intention is to extend the cooperation by continuing options. Before the planned work program, options for any other tasks have been agreed upon.

It is worth noting that the COSLPromoter rig is currently in hot lay-up at the CCB base outside Bergen after drilling for Equinor on the Troll field from April 2013 to April 2021.

“With this contract, Equinor shows continued demand for smaller rigs on the Norwegian Continental Shelf as long as they are competitive and fit for the required drilling operations. The rig will be anchored at Statfjord Øst, helping maintain a low carbon emission level,” Equinor CPO Mette Ottøy said. “We are pleased that COSL assumes responsibility for the fuel consumption, and they are working on several technologies and measures to reduce their emissions. This work will be important to us going forward.”

The rig will be used in Equinor’s late-life field extensions, where safety, efficiency, new ways of working, and low emissions are central to maintaining a profitable operation.

“We are pleased to continue the good cooperation with this rig, which has provided safe and efficient deliveries to us for eight years on the Troll field,” SVP of drilling & well operations at Equinor Erik G. Kirkemo added. “We are also looking forward to continuing our effort on late-life fields together with an experienced player, and we have high expectations to COSL helping us reach our FLX ambitions.”

“We will focus on simple and standardized well solutions and successful improvements, in addition to proving that mature fields can also offer profitable production for many more years and hence contribute to production to 2040 from the Statfjord area,” he added.

The operator of the Statfjord Øst license is Equinor while Petoro, Var Energi, Spirit Energy, Idemitsu Petroleum, and Wintershall Dea are the partners in the license.

To contact the author, email bojan.lepic@rigzone.com


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