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

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...