Equinor takes ‘Rowan Stavanger’ on a 5-month ride

Offshore driller Rowan, soon to merge with Ensco, has said it has won a contract for its Rowan Stavanger jack-up rig with Norway’s Equinor.

The N-Class ultra-harsh environment jack-up rig will be working in Norway on a five-month firm contract. Equinor will have options to extend.

The contract is expected to start in the third quarter of 2019. The Rowan Stavanger is currently on the Yme field for accommodations and platform support services for Repsol in Norway.

In addition, Equinor and Rowan have also executed a master framework agreement which facilitates future contracts, Rowan said.

Separately, Equinor said that the Rowan Stavanger rig would be used to drill two wells at the Gudrun field, adding that the rig has furthermore been awarded five options for drilling of single wells.

Equinor also shared the financial details of the deal. The firm part of the contract is worth $23 million.

Furthermore, Equinor shared that the framework agreement for the rig would give Equinor exclusive right to use the rig up to 2025 if the rig is kept in continuous operation.

Offshore Energy Today Staff