Equinor splashes $900mn on Norwegian drilling
Norwegian state-owned multinational Equinor plans to exercise options worth 8bn kroner ($900mn) in drilling contracts, the company said on February 16.
The contracts covers drilling, completion, intervention services, plugging, maintenance and modifications at 19 of Equinor’s permanent installations on the continental shelf. Equinor signed four-year agreements with Archer, KCA Deutag and Odfjell Drilling in 2018 which are expected to generate around 2000 jobs annually.
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These contract extensions will help ensure predictability for the parties and safe and efficient well deliveries,” said Erik Gustav Kirkemo, senior vice president for drilling and well operations. “Together with our suppliers, we want to develop these services further to ensure long-term value creation from our installations.”
The contracts are for work at the Grane, Gullfaks A, B, & C, Heidrun, Johan Sverdrup, Kvitebjorn, Njord, Oseberg B, C, South & East, Sleipner A, Snorre A & B, Statfjord A, B & C, and Visun fields.