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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

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.