Statoil Awards US$ 5-billion Offshore Drilling Contracts

KCA Deutag, Odfjell Drilling, and Archer are to share 30 billion kroner’s (USD 5 billion) worth of Statoi offshore drillingl contracts on the Norwegian Continental Shelf

The five billion dollar assignment includes drilling of new wells, plugging of old wells, workover and maintenance of drilling facilities on 18 of Statoil’s 20 fixed platforms on the Norwegian Continental Shelf (NCS).

According to the company, it is the largest NCS contract award since 2010.

“Efficient drilling and well services on existing fields are important to maintain production on the NCS and to deliver according to Statoil’s production forecast of 2.5 million barrels of oil equivalent per day in 2020,” says Margareth Øvrum, executive vice president for the Technology, Projects and Drilling business area, in a statement.

Statoil says it is closely cooperating with the supplier industry, underlining it plays a vital role when it comes to operations and development projects on fields where the company is operator.

Supplier companies carry out 95 percent of drilling services on a platform.