COSL Drilling Europe resumes mobile rig operation with Statoil

About two weeks ago, Statoil had wanted to terminate the services of the rig, which is currently working in the Troll Field of Norway.

COSL Drilling Europe said the company has implemented the necessary measures to meet demands from Statoil for COSLPromoter to continue its work.

Statoil, however, has went ahead to terminate the chartering of another mobile drilling rig COSLInnovator, which was also working in the Troll Field.

As a result of Statoil's decision, COSL Drilling Europe said it has to retrench 230 staff both onshore and offshore.