Statoil terminates contracts for two rigs offshore Norway

Offshore staff

STAVANGER, NorwayStatoil is to exercise its contractual right to terminate a charter of the mobile rig COSLInnovator on the Troll field in the North Sea. The rig is operated by COSL Offshore Management AS.

In addition, Statoil has decided to cease drilling with sister rig COSLPromoter when conditions are safe for discontinuing well operations. This should allow COSL to take the necessary steps to fulfil the contract’s requirements.

Statoil admits the decision may have short-term consequences for planned drilling activities, but not on long-term production on the Troll field. Plans by the license partners for gas and fluid production from the oil zone remain firm, it adds.

03/07/2016

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