Cancellation of rig contract

source: Statoil

Statoil has, on behalf of the Aasta Hansteen licence, decided to cancel the contract with Seadrill for the West Hercules drilling rig.

West Hercules drilling rig (Photo: Ole Jørgen Bratland/Statoil)

Statoil has, on behalf of the Aasta Hansteen licence, decided to cancel the contract with Seadrill for the West Hercules drilling rig.

On contract with Statoil since 31 January 2013, the rig has carried out an exploration campaign offshore Newfoundland in Canada for the past 18 months.

According to the original plan the Aasta Hansteen licence was to take over the rig in the second quarter of 2016 for a drilling campaign to be started around 1 July 2016.

In the autumn of 2015 it was decided to postpone the Aasta Hansteen field start-up one year until the last half of 2018, and consequently the field drilling programme will also be postponed. One of the reasons is that it is not preferable to complete the wells too early before production start-up.

The contract for West Hercules was originally to expire on 31 January 2017.



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

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...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs