Norway: Oil & Gas Deals Statoil Allots Drilling Contracts worth 1.5 Billion Dollars

Effective from October 1, 2018, the contracts awarded to Archer, KCA Deutag and Odfjell Drilling is expected to improve collaboration and integration of work between all the parties.

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Statoil

Norway – Statoil has awarded drilling contracts to Archer, KCA Deutag and Odfjell Drilling for drilling, completion, intervention services, plugging, maintenance and modifications on 18 of Statoil’s fixed platforms. The contracts take effect from October 1, 2018, initially for a period of four years. The total value is estimated at more than 1.5 billion dollars. The contracts include three two-year extension options. The work will employ around 2000 people per year.

Long-term contracts will increase the predictability and ensure stable operating conditions for the suppliers and Statoil. One of the intentions of the contracts is to improve the collaboration between Statoil, the drilling contractors and service contractors. A common incentive programme will stimulate safe and efficient operations through close collaboration and integration of work.

In addition, Statoil has existing drilling contracts with Odfjell for Johan Sverdrup and Mariner, and KCA Deutag for de two Cat J rigs operating at Gullfaks and Oseberg.

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