COSL Signs Rig Letter of Intent for COSLInnovator

Source: 7/3/2020, Location: Europe

After being kept ready for operations over a longer period, COSL Drilling Europe has signed a letter of intent for the use of COSLInnovator on the Norwegian Continental Shelf starting early next year.

COSL Drilling Europe is now rewarded for investing in keeping the COSLInnovator in operational condition («ready to drill»). Early next year the rig will again commence operation in the North Sea drilling 2-3 wells for a un-named rig operator.

«This is a very pleasant and well-deserved summer greeting to our organization and all employees for the effort of keeping the rig ready. We are looking forward to see COSLInnovator delivering efficient operations from day one. This is possible due to a well-maintained rig and well-qualified and highly motivated personnel», says Frank Tollefsen, CEO of COSL Drilling Europe.

In addition to keeping the crew and rig ready for operation, COSL Drilling Europe has made large investments in green technology on our own units by ourselves taking the initiative to make the rig portfolio even more efficient.

«Our rigs are already best in class in terms of emissions and fuel efficiency, and we have now taken the next step by installing an advanced system for energy control. This will provide a reduction up to 25 percent on already very low fuel consumption levels. This is something the market will increasingly demand and this will also strengthen our market position for further contracts»

The energy control system is installed on board of COSLInnovator and is currently being installed on COSLPromoter, which is operation on the Troll Field for Equinor.

«With this technology we will have very low fuel consumption whether the rigs are on anchor, combined anchor and thruster or by dynamic positioning. By this we are leading the way for the rest of the rig industry», Tollefsen says.

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