Owing to overcapacity in its rig portfolio, Statoil will suspend its contract with Saipem for the rig Scarabeo5 from the autumn of 2014, provisionally for the remainder of the year.

This means that Scarabeo5 will be laid up for a brief period. Statoil is planning to re-commission the rig after the turn of the year.

The rig is currently engaged in operations on Visund and is scheduled to complete its work there in August. The period for which the rig is being taken out of operation is equivalent to less than 3 % of Statoil’s drilling capacity on the Norwegian continental shelf (NCS) this year.

Tags: Statoil