COSL Signs Rig Contract with Chrysaor Norge AS

Source: www.gulfoilandgas.com 8/19/2020, Location: Europe

Earlier this summer, COSL Drilling Europe announced that a letter of intent was signed for the use of the 6. generation semi-submersible rig COSLInnovator. It is now confirmed that the rig will be put into operation at Licence PL 973 where Chrysaor is operator and owner together with its partners Okea and Petoro. The operations will be run out of Stavanger.

«We look forward to commence the rig operations early next year. COSLInnovator expect to deliver efficient operations from day one, because the drilling unit has been kept well-maintained including well-qualified and highly motivated personnel employed for the rig», says Frank Tollefsen, CEO of COSL Drilling Europe.

COSLInnovator has been kept in operational condition («ready to drill») for a long periode of time. COSL Drilling Europe has also made large investments in green technology to make the company´s rigs more attractive and efficient. This has led the COSL´s rig portfolio to be best in class in terms of low emissions and fuel efficiency.

Believes in more contracts
The CEO of COSL believes in more contracts in the future based on several reasons. The new rig contract is on its own driving attention from the market combined with the measures to make the rigs even more attractive. «We have been focused on delivering what the market expects in the future when it comes to modern and efficient rigs. We have installed an advance system for energy control. This will provide a emissions-reduction of up to 25 percent based on already very low levels. This means that we are leading the way for the rest of the rig industry», Tollefsen says.


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