Statoil suspends Scarabeo 5 on overcapacity
STAVANGER, Norway -- Statoil has decided to suspend Scarabeo 5 due to overcapacity in its rig portfolio, the company announced Wednesday.
The suspension will take effect once Scarabeo 5 has completed the drilling of a well on Kristin field in the middle of August, and will last until March 1, 2016.
“We regret the need to suspend Scarabeo 5, but we will do our utmost to resume our drilling operations earlier than planned at the time of suspending the rig,” Statoil’s Jon Arnt Jacobsen, senior V.P. of procurement, said.
Scarabeo 5 is a fourth-generation semisubmersible.
