Statoil has has extended its drilling contracts with KCA Deutag, Odfjell Drilling and Archer for services on its platforms on the Norwegian continental shelf.
The contract options, based on contracts initially awarded in 2012, were exercised for 17 installations and runs from 1 October 2016 to 1 October 2018. A further two times two-year extension options remain available to Statoil.
The total contract value for the next two-year period is estimated by Statoil at up to NOK5 billion. The work includes drilling and well services, the maintenance of drilling facilities, in addition to modifications and any optional work.
“The suppliers have demonstrated innovation and submitted good proposals for continued development of these services, and Statoil is positive to continuing the work with all of the three companies. The current contracts will help maintain activity on competitive terms in a market challenged by profitability,” says Geir Tungesvik, Statoil’s senior vice president for drilling and well.