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Weatherford provides Statoil with tubular running services in USD 400m contract

16th September 2014

Weatherford International has been awarded an exclusive contract with Statoil Petroleum AS valued at USD 400m for the delivery of Tubular Running Services on 19 drilling units in Statoil’s portfolio

Weatherford provides Statoil with tubular running services in USD 400m contract
Throughout the term of the contract, Weatherford will assist with the selection and delivery of customisable solutions, which allow Statoil to achieve greater well integrity for offshore projects in both remote locations and mature infrastructures

This contract has a base period of six years with the option of two consecutive two-year extensions.

As a result of the contract, Weatherford is the leading provider to Statoil for Tubular Running Services, including fixed platforms. Weatherford currently holds nine drilling units and expects new builds in the next six to 18 months.

Throughout the term of the contract, Weatherford will assist with the selection and delivery of customisable solutions, which allow Statoil to achieve greater well integrity for offshore projects in both remote locations and mature infrastructures.

“As a trusted service provider for Statoil, we are committed to providing reliable and safe casing with the knowledge, support, and technology to assure well integrity,” said Frank S. Schieldrop, Weatherford chairman and country manager for Norway. “We are there at every phase―analysing and minimising risks, establishing process safety for mitigating drilling hazards, and recommending the best technology in terms of both application and availability.”

The contract win aligns with Weatherford’s strategic focus on its core businesses. Its extensive technology portfolio allows clients to address complex drilling and production challenges throughout the lifecycle of the well.

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