Statoil and its partners have signed contracts worth NOK 9.17bn ($1.6bn) regarding rig charters for three drilling vessels expected to be used on the Norwegian continental shelf.
The three rigs, Bideford Dolphin, Stena Don and Scarabeo 5, will be deployed on several fast-track developments.
Statoil executive vice president of Development and Production, Norway, Øystein Michelsen, said: "The rig capacity we have secured in these contracts will contribute to achieving our production targets towards 2020, through production drilling on several of our legacy assets and starting production from fast-track developments."
Statoil head of drilling and well Øystein Arvid Håland added: "Increasing recovery from existing fields is important for Statoil. Drilling and well maintenance provide the greatest contribution to improved recovery, and it is therefore very positive that we have secured this rig capacity."
The company entered into a contract with Dolphin Drilling for the Bideford Dolphin rig, worth NOK 2.96bn ($515.9m) for the fixed period, excluding potential options. Bideford Dolphin is expected to be used for drilling on the Tordis and Vigdis fields, as well as the Statfjord field in the North Sea, from 2014 until the first quarter of 2017. Statoil said it has also secured a potential option for two more years.
The company also entered into a contract with Stena Drilling for Stena Don, worth NOK 3.11bn ($521m) for the fixed period, excluding potential options.
The rig will be employed for drilling on the Troll field, as well as the fast-track development Fram H-Nord, in the North Sea from the fourth quarter of 2013 until the fourth quarter of 2016. Statoil has also secured a potential one-year option.
The company’s other contract is with Saipem for the Scarabeo 5 rig, worth NOK 3.10bn ($521m) for the fixed period, again with a potential one-year option.
Statoil said the Scarabeo 5 rig will be employed for drilling and completion of production wells on various NCS fields.
Image: Bideford Dolphin, Stena Don and Scarabeo 5 rigs. Photo courtesy of Statoil.