Lundin has contracted with Marine Accurate Well (Maracc) to carry out a 12-well drilling campaign based on the new-build semi-submersible drilling rig Island Innovator. A further 3-4 wells are on option.
According to Maracc, the contract is expected to provide Island Innovator with a minimum of two years of drilling work offshore Norway with operations likely to start during Q2 2013.
The initial contract period is expected to deliver around $370million in revenues, including mobilisation from China and moving the rig to Norway.
Maracc is scheduled to take delivery of the GM4000 class drilling and heavy well intervention rig in Q3 this year from the Cosco yard, Nangtong.
The rig will be run by Odfjell Drilling whose CEO, Simen Lieungh, said of the new contract: “The operation of the Island Innovator will be an important contribution to Odfjell Drilling’s activity on the Norwegian Continental Shelf. The contract between the owner Maracc and Lundin Norway will mean greater predictability for Odfjell Drilling and our operations in Norway. We will need around 170 employees to operate the rig.
The construction of Island Innovator is being completed at Cosco’s Qidong, also in China. Odfjell Drilling has mobilized a follow-up team at the yard. Their task is to police progress and quality of the remaining work.
As an intervention vessel, Island Innovator is the first of its kind, and is designed for North Sea operations. The GM4000 is a proven esign and, in this form, is capable of drilling in 1,300m of water. It has an operation displacement of just over 38,000 tonnes.
Norwegian well intervention specialist Island Offshore is responsible for the marketing and management the vessel, as well as providing project management and supervision during construction.
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