New contract COSLRigmar(29.03.2011)
PRESS RELEASE STAVANGER MARCH 29 2011: COSL Drilling Europe AS has signed a new 12 months contract for the accommodation unit COSLRigmar with ConocoPhillips Skandinavia AS.
The accommodation unit will be used on the same field as today, in the Greater Ekofisk Area, where it has been working continuously since February 2004. Estimated contract value is approximately 80 million USD during the firm 12 months contract duration. Commencement of the assignment is scheduled for 1 October 2012, which is in direct continuation of the rig's existing contractual obligations. In addition ConocoPhillips has secured options for further use of the rig.
Jørgen Arnesen, CEO in COSL Drilling Europe AS says, "We are pleased to secure a new contract for one of our accommodation units working in Norway with our client ConocoPhillips. This contract demonstrates the attractiveness of our accommodation units which are upgraded/modified during the last years to meet the highest standard applicable for accommodation units in Norwegian waters.
This contract award, together with Statoil's contract award in December for the semi-submersible drilling unit COSLPioneer shows that COSL Drilling Europe is a highly recognised supplier of drilling- and accommodation unit services by the major oil companies on the Norwegian Continental Shelf " .