Island Drilling bags rig contract with Faroe

Offshore driller Island Drilling Company has been awarded a contract with Faroe Petroleum Norge to drill one well in the Norwegian Sea, using the Island Innovator drilling rig. 

The well is located on PL888 Canela license, Block 6507/7, located west of Heidrun field offshore Norway.

Faroe Petroleum Norge is the operator of Canela PL888, holding a 40% interest. Faroe’s partners in the license are ConocoPhillips and Wellesley Petroleum with a 30% interest, each.

According to Faroe, the Canela prospect consists of down faulted blocks west of the producing Heidrun field and reservoirs are expected to be the same Fangst group sands as found in Heidrun.

Island Drilling said earlier this week that the drilling for Faroe was scheduled to start in the third quarter of 2019. Island Drilling Management will be responsible for the operation of the Island Innovator rig.

Bassoe Offshore’s estimated dayrate for the rig’s contract with Faroe is $170,000.

Island Innovator is a 6th generation semi-submersible drilling rig of a Global Maritime GM4000 type, built by the COSCO Shipyard in China in 2012. The rig was designed to operate in water depths up to 1200 meters on the Norwegian Continental Self and world wide harsh environments.

Island Drilling has also recently been awarded a contract by CNOOC for the Island Innovator rig for operations offshore the UK. This 60-day firm contract is expected to start in June.

Offshore Energy Today Staff

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