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.