Norwegian Rig Operator Island Drilling Secures Major Contract with Equinor

Norwegian rig owner and operator Island Drilling has secured a significant long-term contract from Equinor for plug and abandonment work on the Norwegian Continental Shelf.

The contract, set to commence in the first quarter of 2026, spans a firm period of three years with an option for five one-year extensions.

The contract, which involves the Island Innovator semisub rig, is valued at approximately $330 million and includes mobilisation, integrated services, and modifications.

Island Drilling has stated that this new contract award will have positive implications for the region, leading to the employment of an additional 10 to 15 staff onshore in Bergen and Stavanger, as well as between 80 and 100 new employees offshore.

In related plug and abandonment contract news, oilfield services provider Archer announced a separate contract with Equinor for the Snorre UPA and Heidrun B and C templates.