Siem WIS extends cooperation with Statoil
- Business & Finance
Norwegian drilling service company Siem WIS has entered into a frame agreement with compatriot Statoil for the provision of rotating control device (RCD) services on the Norwegian Continental Shelf.
Siem WIS said on Wednesday that the contract period is from January 1, 2017, until August 31, 2020, with two one-year extension options.
The company added that the two sides signed the RCD services agreement on December 9. The RCD is used in connection with managed pressure drilling (MPD) operations, a drilling technique that offers ‘new and improved ways’ to drill wells.
The drilling services firm has been providing RCD services to Statoil using its PCD 5000 systems for the last two years.
During the first contract between the sides, Siem WIS provided several Gulfaks A wells with PCDs through a frame agreements established with Halliburton while a similar agreement between Siem WIS and M-I Swaco delivered the PCDs to the Valemon field as well as to the Julius and Romeo prospects.
Geir Ove Nordheim, CEO of Siem WIS, said that the agreement was a milestone for the company since it marked the final transition from development, qualification, through initial field operations to a commercially available PCD service.