Det norske oljeselskap, on behalf of the partnerships in PL 203 (Alvheim) and PL 150 (Volund), has chartered Transocean semi-submersible drilling rig Transocean Arctic for the drilling of four wells in the Alvheim area of the North Sea.
The rig contract will involve the drilling of one exploration well and three production wells.
The project will commence during December 2016 and is estimated to be for around 250 days on a day rate at market value. There are several further options built into the agreement, which is worth approximately $44.75m excluding the options.
