Statoil Suspends Another Rig Contract

Norwegian oil main Statoil has determined to droop its contract for the semi-submersible drilling Scarabeo 5 because of overcapacity in its rig portfolio.

The suspension will take impact as soon as Scarabeo 5 has accomplished drilling of a effectively on the Kristin discipline in the midst of August, and can final till 1 March 2016.

“We regret the need to suspend Scarabeo 5, but we will do our utmost to resume our drilling operations earlier than planned at the time of suspending the rig,” says Jon Arnt Jacobsen, senior vp of Procurement in Statoil.

Last week, Statoil terminated its contract with the COSL Pioneer some 13 months sooner than deliberate. The rig had been laid up since September once more because of overcapacity, primarily because of falling oil costs.

In October, Statoil suspended contracts for 2 different rigs, the Transocean Spitsbergen and Songa Trym, for a similar causes.

In all 4 circumstances, the rigs have been working on the Norwegian continental shelf.

The most contract suspension comes as building begins on the large Johan Sverdrup improvement mission offshore Norway, the biggest industrial mission in Norway for many years to return.