Norwegian operator Statoil has sealed two new rig deals for Diamond’s Ocean Vanguard and Saipem’s Scarabeo 5 at 2006 rig rates.

The Ocean Vanguard contract is for three years plus a one year option, valued at $382m. The dayrate will be about $348,859.

The Scarabeo 5 contract, also for three years with a one year option is, valued at $437m. The day rate will be about $399,087.

“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,” said Statoil senior vice president for procurement, Anders Opedal.

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By GlobalData