COSL Drilling Europe’s 2010-built rig staying with Vår Energi into 2028

July 13, 2026, by Melisa Cavcic

Norway’s oil and gas player Vår Energi has prolonged a drilling assignment, which is being undertaken on the Norwegian Continental Shelf (NCS) with one of the semi-submersible rigs owned by COSL Drilling Europe, an offshore drilling contractor.

COSL Pioneer; Source: COSL Drilling Europe

Vår Energi has exercised its third option for the COSL Pioneer rig, extending the rig’s contract well into 2028. The Norwegian operator’s representatives, alongside those from Halliburton and COSL Drilling Europe, recently spent time onboard the 2010-built semi-submersible.

Designed to operate in water depths up to 750 meters, the 2010-built rig features station keeping maintained by an eight-line mooring system or dynamic position mode maintained by six fixed-pitch, variable-speed thrusters (DP3).

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Commenting on this, COSL Drilling Europe highlighted: “This contract extension reflects the value of consistent performance and supports our long-term growth ambitions.

“A sincere thank you to everyone onboard the COSL Pioneer and to our colleagues onshore whose dedication and hard work have made this achievement possible. Together, we will continue to deliver safe, efficient and low-carbon operations.”

While describing the extension as “a strong endorsement of the outstanding work delivered by the COSL Pioneer team,” the company emphasizes that the additional work reflects the confidence Vår Energi continues to place in the firm, reinforcing the strength of their long-term partnership and “shared commitment to safe, efficient, and low-emission operations.”

Vår Energi is developing multiple hydrocarbon developments, including one for which the firm recently secured the go-ahead to start production at an existing oil project in the Norwegian North Sea.