COSL Drilling Europe, the European arm of China Oilfield Services Limited has secured contracts from Norway’s Equinor for semisub drilling units COSLPromoter and COSLInnovator on the Norwegian continental shelf.
The 2012-built COSLPromoter is already contracted to Equinor and will start its new contract in the first quarter of 2025. The firm contract is for one year, with options for a further four years. The 2011-built COSLInnovator has been contracted for two years, starting in the second quarter of 2025, with extension options for a further three years.
Both firm deals are worth around $369m and include running of casing, remotely operated vehicle (ROV), offshore waste management and cement unit maintenance. Mobilisation and demobilisation fees are also included, Equinor said. Both rigs have been upgraded with energy efficiency measures and work processes to reduce emissions from operations.
“We plan to drill many production and exploration wells in the years to come. We are pleased to secure rig capacity which will enable us to deliver on our high ambitions. We signed a master frame agreement with COSL some years ago, and these contracts underline our commitment to continue working together creating value on the Norwegian continental shelf,” said Mette H. Ottøy, chief procurement officer.
