COSL has announced that its COSLRival accommodation rig has been awarded a contract extension by BP with a firm duration of 12 months. Previously the firm duration was 6 months and 20 days. The rig will be used at BP’s Magnus field in the UK sector of the North Sea.
The contract is expected to begin directly after completion of the 5 years special periodic survey planned to be performed in January/early part of February 2014. The unit is now on a firm contract until end February 2015. BP UK will also upgrade the POB of the unit to 400. This upgrade will be performed during the yard stay in Q1 2014.