Cairn taps Island Drilling rig for North Sea well

Island Innovator; Source: Island Drilling

Island Drilling Company has received a letter of intent from Capricorn Norge for operations in the North Sea offshore Norway. 

The letter of intent is for one well on Duncan prospect – Block 35/8 in the North Sea and two optional wells, Island Drilling said on Tuesday.

Drilling is scheduled to start in the second quarter of 2020, the company added.

Bassoe Offshore estimates that the rig’s dayrate for this contract will be around $210,000.

The company has chosen the Island Innovator semi-submersible rig for this scope and Island Drilling Management will be responsible for the operation of the rig.

Capricorn Norge is a subsidiary of Cairn Energy and the operator of License 880, which contains the Duncan prospect, holding a 60% interest. Edison Norge is Capricorn’s partner in the license with the remaining 40% interest.

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