Statoil to Use Ocean Vanguard Rig for Drilling at PL 502 (Norway)

Statoil Petroleum ASA has received consent to carry out exploration drilling with the Ocean Vanguard semi-submersible drilling rig in block 16/5, offshore Norway.

The Petroleum Safety Authority Norway (PSA) has granted Statoil consent for exploration drilling of well 16/5-3.  The drilling is scheduled to start in February 2013, with a duration of approximately 36 days.

The drilling site is located in the North Sea, west of Stavanger, and is part of production licence 502.

The water depth at the site is approximately 108 metres.

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January 8, 2013