Statoil has announced that it has exercised options for 17 installations on the Norwegian continental shelf.
In 2012 Statoil awarded contracts for four years which included three additional two-year extension options to Archer, KCA Deutag and Odfjell.
The company now has extended the contracts with each supplier, exercising the first option from October 1, 2016 to October 1, 2018.
The total contract value for the extensions is up to NOK5bn ($601m). 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,” said Geir Tungesvik, Statoil’s senior vice president for drilling and well.
