Oil Well Exploitation Project News

The value of this contract is approximately US$ 1.1 billion  and the rigs will be delivered in the middle of 2015. After delivery, these rigs will be chartered by Statoil, the Norwegian state oil company for eight years, and they will provide services to the Norwegian Coast, the North Sea, and Polar Regions. Statoil is operating a ‘Category-D’ oil well exploitation project on the Norwegian continental shelf and it will be possible for these rigs to drill up to a maximum depth of 8,500m in 100~500m of water. These semi-submersible rigs will be 116m long, 97m wide, and fitted with the Dynamic Positioning System which includes a GPS system.