Statoil secures Songa Delta semisub for fast-track drilling campaign in Norway

Source: Statoil

Statoil (NYSE:STO) has awarded Songa Offshore a US $400 million contract for hire of the semisubmersible rig Songa Delta, for use in the fast-track portfolio on the Norwegian continental shelf (NCS).

The rig will carry out production drilling for Statoil’s fast-track portfolio on the NCS. 

It will be used for drilling and completing wells, and will quickly be able to contribute to the production of the fields. 

“We will be able to realize small finds that normally would not be profitable through fast-track developments and standardized solutions,” said Ivar Aasheim, head of field development on the NCS. 

“Securing drilling capacity is vital to be able to execute our fast-track developments. This helps to maintain the production level on the NCS.” 

Plans call for the rig to start its production assignment for Statoil in the summer of 2012. The rig will work specifically for Statoil’s fast-track developments, and will play an important part in maintaining the pace of our fast-track projects. 

The contract period is three years firm, and includes a one-year option following the completion of the drilling program. Statoil has an option to extend the contract period from three to four years firm.

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