Two oil & gas operators gearing up for North Sea drilling ops with COSL and Saipem’s rigs

June 19, 2026, by Melisa Cavcic

Norwegian oil and gas operators, Equinor and Aker BP, have each obtained drilling permits for operations in the North Sea on the Norwegian Continental Shelf (NCS), which will be conducted with semi-submersible rigs owned by COSL Drilling Europe and Saipem.

The Norwegian Offshore Directorate has granted Equinor a drilling permit for the wellbore 16/4-14 in production licence 1174 S, which is valid from February 17, 2023, until the same date in 2030.

Equinor is the operator of the licence with an 80% interest, with its partner, Petoro, holding the remaining 20% stake. The drilling activities will be undertaken with COSL Drilling Europe’s COSL Innovator semi-submersible rig.

The wellbore 16/4-14 is expected to be spud in September 2026. The Norwegian state-owned giant booked the COSL Innovator rig in August 2023 for a two-year contract, starting in the second quarter of 2025.

The rig deal comes with extension options for three additional years. The 2012-built semi-submersible rig is designed to operate in water depths up to 750 meters.

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Meanwhile, the Norwegian Offshore Directorate has given Aker BP a drilling permit for the well 36/4-2 in production licence 1153, which is valid from March 11, 2022, until the same date in 2030.

Aker BP is the operator of the licence with a 40% interest, with its partners, Inpex Idemitsu Norge, OKEA, and Harbour Energy, holding the remaining 30%, 20%, and 10% stakes, respectively.

The drilling activities will be undertaken this June in the North Sea with Saipem’s Scarabeo 8 rig. The 2012-built sixth-generation dual-derrick deepwater semi-submersible drilling rig secured a contract extension with Aker BP a few months ago.

The rig has an accommodation capacity for 140 people and a maximum drilling depth of 35,000 feet (about 10,668 meters). The semi-submersible is staying with the Norwegian player for an additional year, taking the deal into 2028.