News, Oil & Gas

Statoil secures more rig capacity

Statoil has signed a contract with North Atlantic Norway to hire the West Hercules rig which can be used for exploration and production drilling internationally and on the Norwegian continental shelf (NCS).

The semi-submersible rig will be deployed to start drilling from Q3 2012.

“With its many capabilities, West Hercules will contribute to maintaining a sustainable activity level of exploration, and also to execute on our company’s ambitious exploration strategy in the years to come,” says Tim Dodson, Statoil’s executive vice president for Exploration.

“Inclusion of this rig in our portfolio provides the necessary flexibility we are looking for and it supports our earlier communicated strategy of revitalising the NCS with high value barrels and deliver on our exploration programme globally. Acquiring this rig is an important contribution to securing Statoil’s rig capacity,” Dodson says.

West Hercules is a sixth generation, high specification, deep water, semi-submersible drilling unit, built in 2008. It has a high load carrying capacity and an efficient drilling floor layout with improved safety and working environment measures.

West Hercules can run parallel drilling operations and is designed with a dynamic positioning system and a water depth capacity up to 3,000 metres.

FACTS

Statoil is an integrated oil and gas company based in Norway, and represented in 33 countries.

Total revenues in 2005 were NOK 393 billion. The group had 25,644 employees at the end of the year.