Equinor lets drilling contracts for Norwegian Continental Shelf

Aug. 31, 2023
Equinor ASA has let two contracts to COSL Offshore Management AS to employ COSL Promoter and COSL Innovator semi-submersible drilling rigs on the Norwegian Continental Shelf.

Equinor ASA has let two contracts to COSL Offshore Management AS to employ COSL Promoter and COSL Innovator semi-submersible drilling rigs on the Norwegian Continental Shelf. The firm periods of the contracts are valued at about $369 million.

The COSL Promoter is already contracted to Equinor for production drilling on Statfjord Øst field in the Tampen area of the North Sea and will begin the new contract in first-quarter 2025 (OGJ Online, Jan. 6, 2023). The firm contract is for 1 year, with options for a further 4 years.

The COSL Innovator is contracted for 2 years, starting in second-quarter 2025, and the contract includes options for a further 3 years.

The contract includes running of casing, remote-operated vehicle (ROV), offshore waste management, and cement unit maintenance. Mobilization and demobilization fees are also included. Both rigs have been upgraded with energy efficiency measures and work processes to reduce emissions from operations.