Equinor has initiated a new offshore drilling phase on the Norwegian continental shelf, utilizing drilling units from both COSL and Transocean. The company has secured all necessary regulatory approvals and is now proceeding with a series of exploration and development wells across the Norwegian and Barents Seas.
The COSL Prospector, a GG5000-class semi-submersible rig, is part of the campaign. The unit is capable of operating in water depths up to 1,500 meters and drilling wells to a total depth of 7,500 meters. It is being mobilized to support Equinor’s exploration program in the Barents Sea.
In parallel, Equinor is deploying Transocean’s Transocean Encourage semi-submersible rig in the Norwegian Sea. The rig has been under contract with Equinor for several consecutive well programs, and its current engagement period extends until early 2026.
Equinor also holds a drilling permit for wellbore 6507/8-12 S under production license 124 B in the Norwegian Sea. The drilling operation is planned to be conducted using the COSL Innovator semi-submersible rig. This well is classified as a wildcat well and will contribute to ongoing exploration of new prospects within the license area.
In addition to these operations, Equinor awarded contracts in 2023 to COSL Offshore Management AS for the rigs COSL Promoter and COSL Innovator, both assigned to work on the Norwegian continental shelf. The total contract value for the fixed periods was approximately USD 369 million, covering rig hire, integrated services, and performance-based incentives.
By coordinating operations with both COSL and Transocean rigs, Equinor continues to strengthen its offshore drilling capacity in Norway. The dual-rig utilization provides the company with enhanced operational flexibility to carry out exploration and development activities in multiple offshore basins simultaneously.
Equinor stated that it aims to maintain a consistent drilling pace on the Norwegian shelf, in alignment with its long-term exploration and production strategy. The use of multiple rigs allows the company to optimize scheduling, reduce downtime, and ensure readiness for a mix of development and frontier wells.
