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Tullow finds oil and gas off Norway

Equinor awards drilling contracts worth US$3.7 bln

Jun 18, 2018
2 min read
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Equinor has awarded a bonanza of drilling contracts worth US$3.7 billion (NOK 30 billion) to Baker Hughes, Schlumberger and Halliburton for work on most of the Equinor-operated fields on the Norwegian continental shelf.

The contracts include options for five 2-year extensions. Extension of the contracts is subject to continuous achievement of the goals for well deliveries.

“This is a great day for Equinor and the Norwegian continental shelf. The contracts are the biggest we have ever awarded within drilling and well service. The integrated delivery model we have chosen will strengthen the interaction between the service supplier, rig supplier and operator, enabling us to drill more wells. This, in turn, will enhance recovery and ensure long-term operations,” said Pål Eitrheim, Statoil’s chief procurement officer.

The new contracts will create jobs for some 2,000 people on 17 fixed platforms and eight mobile rigs. They replace the current service contracts, which expire on 31 August. The contracts aim at new ways of collaborating, giving the service suppliers greater responsibility for services than before.

“The service supplier, rig supplier and Equinor will collaborate as a team, and together decide how to best solve the tasks. We have common drivers to help us achieve our aims, and we are willing to reward good performance, because it helps us increase profitability. The principle of the collaboration model is to always operate according to best practice, learn across operations and leverage lessons learned for continuous improvement,” says Tungesvik.

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