SeaDrill Wins Exploration & Drilling Contract From Statoil
Zacks Investment Research | Jul 13, 2017 09:03PM ET
Offshore drilling contractor SeaDrill Limited (NYSE:SDRL) was recently awarded a contract by Statoil (OL:STL) Brasil Óleo e Gas, a unit of integrated energy player Statoil ASA (NYSE:STO) , for SeaDrill’s drillship, West Saturn, in the Statoil operated BM-S-8 license in Brazil’s prolific Santos basin.
Per the terms of the agreement, Statoil will deploy SeaDrill’s ultra deepwater drillship, West Saturn, to drill one exploration well in the Guanxuma prospect and up to seven wells where Statoil has license and operatorship, including the Peregrino oil field in the Campos Basin. Statoil may exercise the options based on the results of the exploration programs. Subject to satisfactory results and regulatory approvals, the Norwegian operator may hire West Saturn across its Brazilian assets including Peregrino oil field in the Campos Basin. The move is in sync with Statoil’s commitment to follow-up on potential exploration success in the 2017-2018 programs
Per the contract, a drill stem test will also be conducted on the pre-salt Carcará discovery. Statoil recently inked a Zacks Investment Research
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