Oil and gas news : Norwegian energy company Statoil and its partners will use the West Hercules drilling rig for Barents Sea exploration following a contract awarded to North Atlantic Norway to use its semi-submersible rig for the drilling of two exploration wells this year.

The contract estimated to be $15-20 million for the drilling for the two permanent wells.

An option to use the semi-submersible rig to drill an additional five exploration wells has been agreed by the parties.

Statoil said that the amount includes mobilisation and demobilization of the West Hercules semi-submersible rig. However, remotely operated vehicles (ROV) along with other services will be charged extra, said the Norwegian energy company.

Statoil plans to begin the drilling activity in summer 2018.

Commenting on selecting the West Hercules drilling rig for the Barents Sea exploration Geir Tungesvik – head of Drilling and Well in Statoil, said: “We have chosen this rig because it is winterized and ready for use in cold waters. We have used this rig before, both in the norther part of the Norwegian continental shelf and in Canada. We expect North Atlantic Norway to provide safe and efficient operations.”

  Barents Sea, Barents Sea exploration, North Atlantic Norway, Norway, Oil and gas news, Statoil, West Hercules drilling rig