DRILLING

Statoil abandons rig plan

NORWEGIAN oil giant Statoil has abandoned plans for a new type of rig it believed would have made a major contribution towards increasing oil recovery from existing fields.

Statoil abandons rig plan

It appointed Aker Solutions to hire the rig it designed based on Statoil's specifications. However, both parties have agreed it best to cancel the rig hire contract. Aker had been working to define...

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