The COSLInnovator. Image courtesy of COSL.

Rig firm COSL confirmed on Monday that it will cut over 200 jobs after Statoil canceled a rig contact earlier this month.

COSL Drilling Europe said in a statement that it will layoff about 230 onshore and offshore employees as a result of Statoil terminating its contract for the COSLInnovator.

The company added that it will not conduct any cuts related to the temporary suspension of the contract for the COSLPromoter.

Last week, Norway’s Statoil canceled its contract for the COSL Innovator mobile rig, the same rig involved in a fatal accident in December.

“The conditions for terminating the contract signed with COSL Offshore Management AS have in our opinion been met, and we therefore choose to use our contractual right to terminate the contract,” Statoil’s senior vice president for drilling and well Geir Tungesvik said last week.

The COSL Innovator was working at the Troll field in the North Sea on December 30 when a breaking wave hit the rig, killing one worker and injuring two others.

The breaking wave also damaged the rig’s accommodation module.

“We are talking about employees of absolute “top shelf”, which has ensured that COSLInnovator and COSLPromoter have distinguished themselves as two of the most effective rigs in the North Sea. Therefore, this is very sad also for the company and the rest of the industry, which loses deep expertise and talent.When the need arises again, we hope they find their way back again,” CEO of COSL Drilling Europe Jorgen Arnesen said.

Statoil will also halt drilling operations with the COSLPromoter when it is “safe to discontinue well operations.”

The COSLPromoter is expected to arrive at the Coast Center Base in Norway over the weekend.

COSL said that because it expects the rig to spend a short time ashore it will not send out layoff notices tied to the rig’s temporary suspension.


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