Signs master framework agreement with Equinor

COSL Drilling Europe AS (CDE) signs Master Framework Agreement with Equinor on the Norwegian Continental Shelf, that fully enables COSL to provide additional drilling units and services to Equinor. The agreement will strengthen the corporation between the companies and to facilitate long-term collaboration at all levels. The parties will commit to work on technology development as well as operational enhancements with initiatives to limit greenhouse gas emissions from drilling operations. The agreement also lays out framework for delivery of integrated services.

- Equinor is still our most important customer. We have very effective rigs with a technology that can help Equinor reach its recently announced goal of an “emission-free” Norwegian continental shelf. One of our rigs that Equinor uses, has been rated their best rig multiple times the last five years, says Tollefsen and ads:

- With this agreement we can now fully compete for Equinor contract awards on the same terms as our competitors. I am very pleased with that.

This is great news for us going forward, once the current situation normalises.