Statoil to temporarily lay up COSL Pioneer

Sept. 17, 2014
Due to overcapacity in its rig portfolio, Statoil will lay up the COSL Pioneer rig in 4Q 2014.

Offshore staff

STAVANGER, Norway – Due to overcapacity in its rig portfolio, Statoil will lay up the COSL Pioneer rig in 4Q 2014.

The rig is currently on assignment at theVisund field in the North Sea and is scheduled to complete this work at the end of September.

In the beginning of July, Statoil also announced that the drilling rigScarabeo 5 will be temporarily suspended. Scarabeo 5will be taken out of operations at the end of September for the rest of the year.

Statoil says thatCOSL Pioneerhas demonstrated consistent, high efficiency in drilling operations. The rig is contracted until 2016.

09/17/2014