Statoil to temporarily lay up COSL Pioneer

Offshore staff

STAVANGER, Norway – Due to overcapacity in its rig portfolio, Statoil will lay up the COSL Pioneer rig in 4Q 2014.

The rig is currently on assignment at the Visund field in the North Sea and is scheduled to complete this work at the end of September.

In the beginning of July, Statoil also announced that the drilling rig Scarabeo 5 will be temporarily suspended. Scarabeo 5 will be taken out of operations at the end of September for the rest of the year.

Statoil says that COSL Pioneer has demonstrated consistent, high efficiency in drilling operations. The rig is contracted until 2016.

09/17/2014

The COSL Pioneer rig has been operating in the North Sea for Statoil. Photo courtesy of Ole Jørgen Bratland.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...