Statoil awarded Weatherford International a US$400 million contract for the delivery of tubular running services on 19 drilling units in Statoil’s portfolio.
The six-year contract has an option for two consecutive two-year extensions.
Weatherford currently holds nine drilling units and expects new builds in the next six to 18 months.
Weatherford says that throughout the term of the contract, it will assist with the selection and delivery of customizable solutions, which allows Statoil to achieve greater well integrity for offshore projects in both remote locations and mature infrastructures.
“We are there at every phase―analyzing and minimizing risks, establishing process safety for mitigating drilling hazards, and recommending the best technology in terms of both application and availability,” says Frank S. Schieldrop, Weatherford chairman & country manager - Norway.
Baker Hughes acquired Weatherford’s pipeline and specialty services business earlier this month for $250 million. The sale is part of Weatherford’s previously announced plan to divest its non-core businesses.
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