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