Statoil signs $20-million LOI for next-generation drill system from Enhanced Drilling

7/24/2013

Statoil signs $20-million LOI for next-generation drill system from Enhanced Drilling

BY MELANIE CRUTHIRDS, News Editor

STRAUME -- Offshore technology provider AGR Enhanced Drilling, via its subsidiary Ocean Riser Systems, has entered into a $20-million Letter of Intent (LOI) together with Statoil to deliver the next-generation EC-Drill managed pressure drilling system.

This latest contract will replace a purchase order made last year, when Statoil joined with Norway-based Enhanced Drilling to further develop its EC-Drill managed pressure drilling (MPD) solution for floating rigs. The initial phase of the project was worth $5.1 million.

The EC-Drill system incorporates state-of-the-art control system capability, enhanced riser integration and multiple other features. Testing of the system is due to commence in the autumn, and it will eventually be used on the Norwegian Continental Shelf.

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