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Statoil extends substantial drilling contracts

Norwegian oil major Statoil has exercised options to extend drilling contracts with three suppliers until 2018. Odfjell Drilling is the big loser and will go from seven to now just two contracts.

Photo: Øyvind Hagen/Statoil

Statoil has extended drilling contracts with the three companies Archer, KCA Deutag and Odfjell Drilling, which will now service the Norwegian oil company until 2018, writes Statoil in a press release Thursday.

The company has exercised the options on several contracts which were entered into in 2012 and expire in 2016. The contract extensions have a total value of about NRK 5 billion, or USD 602 million, and the work concerns drilling and well service as well as the maintenance of drilling facilities.

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