The contract includes an option for drilling one extra well at the Valemon field, and 11 wells that are not included in the same licence. The rig contractor also received a master frame agreement with Equinor.
The total value of the day rates for the fixed part of the contract is estimated at around USD 51 million. Additional cost includes integrated services such as managed pressure drilling, treatment of cuttings and wastewater as well as running casing and tubing, further, rig modifications, mobilization and demobilization.
“We are very pleased with the job this rig has done for us at the Mariner field off the coast of Scotland, in particular the safety culture,” says Erik G. Kirkemo, senior vice president of drilling & well operations. “With strong on-board leadership they have embedded best practice for safety and have not had any incidents so far in 2020. Through good planning and collaboration, they have achieved strong operational results close to what we define as a perfect well. We look forward to continuing the collaboration on the Norwegian continental shelf as well.”
The Valemon field is located just south of the Gullfaks field and was discovered in 1985 by well 34/10-23. Gas and condensate have been produced from Middle Jurassic Brent sandstones through a total of 16 drilled production wells so far.
Being the world’s tallest jack-up rig, Noble Lloyd Noble can stand on the seabed in up to 150 metres of water under tough weather conditions. The Valemon drilling campaign is estimated to take around 230 days.
“Equinor is exploring new ways of working with suppliers to increase efficiency and create value together. Long-term collaboration with suppliers who deliver on our expectations is an important element in that respect. This way we reward safe and efficient deliveries and keep building on experience and improvement results achieved in past projects,” says Peggy Krantz-Underland, Equinor’s chief procurement officer.
The contract is subject to the rig receiving an Acknowledgement of Compliance from the Petroleum Safety Authority Norway.
The partners of the Valemon licence are Equinor (66.78%, operator), Petoro (30%) and Shell (3.22%).