Statoil Hires Ocean Vanguard, Scarabeo 5 for NCS Work
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.
- Tight Oil, Shale to Drive Majors' Output to New Highs (Oct 16)
- Shell, Equinor Commit to Tanzania LNG as They Await Host Accord (Oct 16)
- Norwegian Sea Gift Keeps on Giving (Oct 05)
Company: Diamond Offshore more info
- Diamond Offshore Posts Smaller-Than-Expected Loss On Lower Costs (Jul 30)
- Diamond Offshore Posts Smaller-Than-Expected Quarterly Loss (Apr 30)
- New Contracts Drive Diamond Offshore's Profit Beat; Shares Rise (Oct 30)
Company: Saipem more info
- Saipem-led JV Wins Contract for LNG Project in Nigeria (Jul 13)
- Three Drilling Contractors Advance in Rigzone Employer Survey (May 24)
- Saipem Scouting Around as Subsea 7 Bid Makes Waves (Apr 24)