Scandoil  

Statoil Terminates Rig Contract


Published Mar 7, 2016
COSLInnovator
COSLInnovator (photo: COSL)

Statoil reports that, on behalf of the Troll licence, it has decided to use its contractual right to terminate the contract with COSL Offshore Management AS for the chartering of the mobile rig COSLInnovator.

“The conditions for terminating the contract signed with COSL Offshore Management AS have in our opinion been met, and we therefore choose to use our contractual right to terminate the contract,” says Geir Tungesvik, Statoil’s senior vice president for drilling and well.

In addition, Statoil has decided to stop drilling operation with the sister rig COSLPromoter when it is safe to discontinue well operations. This is done in order to enable COSL to implement the necessary actions in order to fulfil the requirements of the contract.

The decision may have some short-term consequences for planned drilling activities, but will not have impacts on long-term production on the Troll field. The plans made by the licence for gas and fluid production from the oil zone remain firm.

Tags: COSL Offshore Management AS, Statoil




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml