May 14, 2012 / 12:32 PM / 5 years ago

Statoil to use Seadrill rig offshore Canada

2 Min Read

OSLO (Reuters) - Statoil (STL.OL) is to use Seadrill's (SDRL.OL) semi-submersible West Aquarius deepwater drilling rig for 2012-2013 exploration activities offshore Newfoundland, Canada, leasing the rig from Exxon Mobil (XOM.N).

"Starting late 2012, Statoil will begin a three-well drilling program, offshore Newfoundland, including two exploration wells in the Flemish Pass Basin as well as an exploration well in the Jeanne d'Arc Basin," Statoil said in a statement.

Statoil has exploration rights in two areas of the Flemish Pass Basin offshore Newfoundland and Labrador in Canada, and will be the operator in both licenses with a 50 percent stake, while its partners Chevron (CVX.N) and Repsol (REP.MC) have 40 and 10 percent respectively.

Statoil did not specify at what rate the rig was to be hired.

The rig has been leased from Exxon Mobil, which last November signed a two-year contract for West Aquarius.

Reporting by Victoria Klesty; Editing by Helen Massy-Beresford

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