Statoil cancels contract for COSL Pioneer drilling rig

Statoil ASA has canceled its contract for the COSL Pioneer drilling rig. The expiry date was August 2016.

COSL Pioneer has been suspended since Oct. 8, 2014 (OGJ Online, Dec. 5, 2014). Statoil says it hasn’t found alternative activity for the rig during the intervening period.

“We regret the need to have to cancel this contract and wish to emphasize that this is not due to how the rig has delivered,” explained Jon Arnt Jacobsen, Statoil senior vice-president, supply chain. “Cancellation is a consequence of overcapacity in the rig portfolio.”

Statoil also previously suspended the Scarabeo 5 and Songa Trym rigs, both of which have since been rescheduled for use.

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


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...