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July 3, 2020

COSL signs LoI for COSLInnovator semi-sub rig use in North Sea

Oilfield services firm COSL Drilling Europe has signed a letter of intent (LoI) for the use of COSLInnovator semi-submersible rig on the Norwegian Continental Shelf (NCS).

By Himaja Ganta

Oilfield services firm COSL Drilling Europe has signed a letter of intent (LoI) for the use of the COSLInnovator semi-submersible rig on the Norwegian Continental Shelf (NCS).

The rig is expected to commence drilling for two-three wells in the North Sea for an undisclosed rig operator, starting early next year.

Announcing the LoI, the company acknowledged it as a reward for investing in keeping the COSLInnovator in ‘ready to drill’ condition.

COSL Drilling Europe CEO Frank Tollefsen said: “This is a very pleasant and well-deserved summer greeting to our organization and all employees for the effort of keeping the rig ready.

“We are looking forward to see the COSLInnovator delivering efficient operations from day one. This is possible due to a well-maintained rig and well-qualified and highly motivated personnel.”

Besides keeping the crew and rig ready for operation, COSL Drilling has made large investments in green technology on its units.

Tollefsen added: “Our rigs are already best in class in terms of emissions and fuel efficiency, and we have now taken the next step by installing an advanced system for energy control.

“With this technology, we will have very low fuel consumption whether the rigs are on anchor, combined anchor and thruster or by dynamic positioning. By this, we are leading the way for the rest of the rig industry.”

In January 2015, COSL Drilling Europe took delivery of its first new-build semi-submersible drilling rig, which features Wood Group Mustang Norway’s (WGMN’s) GG5000 floating hull design.

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