Offshore Rig Overcapacity: Statoil to Suspend Saipem Contract

By George Backwell
Monday, July 07, 2014
Scarabeo5: Photo Statoil

Owing to overcapacity in its rig portfolio, Statoil says it will suspend its contract with Saipem for the rig Scarabeo5 from the autumn of 2014, provisionally for the remainder of the year. Thus Scarabeo5 will be laid up for a brief period and Statoil adds it is planning to re-commission the rig after the turn of the year. 


The rig is currently engaged in operations on Visund and is scheduled to complete its work there in August. The period for which the rig is being taken out of operation is equivalent to less than 3 % of Statoil’s drilling capacity on the Norwegian continental shelf (NCS) this year.  


“We subject our rig portfolio to continuous assessment, so that we are sure of having the right rig on the right job at all times,” says Tore Aarreberg, head of rig procurement. “We are planning for the rig to be in operation again after the turn of the year. We are pleased with Saipem as a supplier. They help us reach our goals, and we have a good cooperation with the supplier.”

The rig is on contract until 2017 and will be used for the drilling and completion of production wells on various NCS fields, thus boosting recovery from existing fields.

Statoil explains that taking Scarabeo5 out of commission for a brief period will not affect their production targets or planned exploration activities on the NCS. In 2014 the company will still be drilling 20-25 exploration wells on the NCS. Out of these 20-25, Statoil will be the operator of approximately two-thirds of the wells.
 

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

WSC CEO Koch to Retire in 2015

Chris Koch, current president and CEO of the World Shipping Council (WSC), will retire from his position on July 31, 2015, and WSC Senior Vice-President and General Counsel,

Cecon Secures Finances to Complete Newbuild

Cecon ASA has petitioned for a debt restructuring agreement (in Norwegian: gjeldsforhandling). Certain funds managed by York Capital Management Global Advisors,

HII Board of Directors Elects Two VPs

Huntington Ingalls Industries’ (HII) board of directors has elected Kellye Walker to serve as corporate vice president and general counsel and Charles R. “Chuck” Monroe Jr.

Contracts

Port of Galveston to Repair Public Pier

Galveston Wharves’ board of trustees today unanimously approved a project to repair pilings and pier deck in the Pier 19 area of the port. The board awarded the contract,

NASSCO Cuts Steel on APT "ECO Tanker"

General Dynamics NASSCO started construction of another ship in its commercial shipbuilding backlog, starting construction of a second “ECO” tanker to be built

Multraship Buys Three More Tugboats from Damen

Multraship and Damen Shipyards Group agreed on three new ASD (Azimuth Stern Drive) Tugs, all for delivery to Multraship in 2015. After delivery in Vietnam, scheduled

Offshore

Abigail Ross Hopper Named BOEM Director

Secretary of the Interior Sally Jewell today named Abigail Ross Hopper as the Director of the Bureau of Ocean Energy Management (BOEM), which manages the development

QGEP to Acquire FPSO from Teekay

Teekay Offshore Partners L.P. has entered into an agreement with a consortium led by Queiroz Galvão Exploração e Produção SA (QGEP) to provide a floating production,

Hoists Facilitate Offshore Crane Repairs

When the diesel engine of a deck crane failed, it caused major handling problems for an offshore platform operating in the Dutch sector of the southern North Sea,

Offshore Energy

Abigail Ross Hopper Named BOEM Director

Secretary of the Interior Sally Jewell today named Abigail Ross Hopper as the Director of the Bureau of Ocean Energy Management (BOEM), which manages the development

QGEP to Acquire FPSO from Teekay

Teekay Offshore Partners L.P. has entered into an agreement with a consortium led by Queiroz Galvão Exploração e Produção SA (QGEP) to provide a floating production,

Jackup Rig Delivered to Abu Dhabi’s NDC

Lamprell delivers its 11th Super 116E jackup drilling unit Lamprell has completed the construction of jackup drilling rig, the Shuwehat, and has delivered the

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1934 sec (5 req/sec)