by Rigzone Staff
Thursday, March 01, 2018
Statoil and its partners contract the West Phoenix rig to drill 4 exploration wells within the UK and Norwegian continental shelves from summer 2018.
Statoil and its partners have contracted the West Phoenix rig to drill four exploration wells within the UK and Norwegian continental shelves from summer 2018.
West Phoenix will first drill an exploration well on the Ragnfrid North license on the NCS, followed by three wells on the UKCS. The rig has already been approved by authorities for use both on the NCS and UKCS.
The Ragnfrid North well has an estimated value of $19.5 million, while the value of the three wells on the UKCS is estimated at $18.5 million. The figures include integrated drilling services such as fuel, casing running, remotely operated underwater vehicles, slop treatment and cuttings handling as well as mobilization and demobilization.
The four wells will be drilled in a continuous campaign that is expected to start in the third quarter and last for four to five months.
“We needed a high capacity rig, because we will be drilling wells in high-pressure, high-temperature formations,” Geir Tungesvik, Statoil’s senior vice president for drilling and wells, said in a company statement.
Commenting on the UK section of the campaign, Statoil’s vice president for exploration in the UK, Jenny Morris, said the wells demonstrate Statoil’s commitment to the region.
“We hope to make new discoveries that can add value and provide the resources necessary for new developments on the UKCS. We are pleased to have secured a modern rig allowing us to mature and test our portfolio in a timely manner,” Morris said in a company statement.
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