Equinor awards Transocean Spitsbergen a firm drilling contract worth EUR 236 million

Transocean Spitsbergen
(Photo: Jamie Baikie, SIGNAL2NOISE/Equinor)

(PRESS RELEASE) STAVANGER, 7-Jun-2022 — /EuropaWire/ — Equinor ASA (OSE:EQNR, NYSE:EQNR), an oil, gas, wind and solar energy company active in more than 30 markets globally, has announced it awarded a firm drilling programme consisting of nine wells and options for another two to Transocean Spitsbergen, a 6th generation dual-derrick winterised semi-submersible rig capable of drilling high-pressure/high-temperature formations. The value of the contract is estimated at around NOK 2.4 billion (EUR 236 million), which also includes the options.

The rig is scheduled to start the drilling campaign in the autumn of 2023 for three production wells for the Haltenbanken West Unit, which is part of the Kristin South area in the Norwegian Sea. Subsequently, six production wells are planned for Halten East, which will be tied in to the Åsgard field in the Norwegian Sea, before considering another two wells on Kristin South. The whole drilling programme, including options, is estimated to last for slightly less than two years.

Transocean Spitsbergen already has a framework agreement with continuing options and has been drilling for Equinor on a continuous basis since 2019.

“Transocean has over an extensive period demonstrated that they deliver safe and efficient drilling operations for Equinor. Vi have therefore signed a long-term contract with them for a drilling programme for Halten East and Kristin South,” says Geir Tungesvik, executive vice president for Projects, Drilling & Procurement.

“We are pleased that we have now established predictability for these two operated licences. Thanks to the framework agreement with Transocean, we had an efficient process for both parties, truly leveraging the effect of our long-term collaboration,” he says.

Transocean Spitsbergen is a 6th generation dual-derrick winterised semi-submersible rig capable of drilling high-pressure/high-temperature formations, and is equipped with an automatic drilling control system. The rig is currently being used for well completion on the Snorre field.

The estimated contract value includes drilling services such as casing running, slop treatment, cuttings handling and two remotely operated vehicles (ROV).

Media contact:

Sissel Rinde
Vice president Media relations
Corporate affairs
sisr@equinor.com
+47 412 60 584

SOURCE: Equinor ASA