COSL Drilling Europe has been awarded a contract for wells operations on the Abigail Well and the Captain phase II Subsea Development in the central North Sea on the UK Continental Shelf (UKCS).

COSL Drilling Europe will be utilizing its modern, 6. Generation Harsh Environment Semi-Submersible drilling unit, the COSLPioneer for this contract which is currently being mobilized for another UK Operator for a short drilling campaign prior to commencement of the Ithaca Energy (UK) Limited contract. The commencement is set for March, 2022 and the drilling campaign has a combined work scope with an estimated duration up to Q2, 2024.

The COSLPioneer will, as part of ongoing mobilization, be modernised with COSL Energy Control System, converting the unit into a Low Emission 6. Generation drilling unit. This as well as COSL being ISO 50001 certified will set new bench mark in the industry representing the lowest fuels consumption and carbon footprint seen to date for these type of units.

“We are delighted to be awarded this contract with Ithaca Energy on the UKCS. We will together set a new standard when it comes to low-emission and efficient drilling operation. We are excited in how Ithaca Energy with the award of this contract demonstrates its confidence in our employees, our rigs and our organisation to deliver efficient and high-end drilling performances” says Frank Tollefsen, CEO of COSL Drilling Europe.

COSLs rig portfolio has a track record of having the most efficient and best performing rigs of the North Sea, with Energy Control Systems already delivering substantial reductions in CO2 and Nox emissions. The rigs are compact, smart deck-layout, with low personnel on board (PoB) and operated by a highly competent and experienced team.

«Our rigs are already best in class in terms of emissions and fuel efficiency, and we have now taken the next step by installing an advanced system for energy control. This will provide a reduction up to 25-50 percent on already very low fuel consumption levels. This is increasingly demanded in the market as it helps operators to meet its climate goals», Tollefsen says.

About COSL Drilling Europe

COSL Drilling Europe was established in 2005, and has its head office located in Stavanger, Norway. Today we operate four modern drilling units. We have a solid owner with stable ratings in China Oilfield Services Limited, listed at the Shanghai Stock Exchange, with ambitions to strengthen its foothold in the North Sea.

About Ithaca Energy

Ithaca Energy is an independent oil and gas company with production, development and exploration operations focused on the UK North Sea. The Company was founded in 2004 and has grown through a combination of acquisitions and new field developments. Our strategy is focused on establishing the company as a leading North Sea operator, delivering sustainable growth in free cash flow generation, underpinned by operational excellence and financial discipline.

Ithaca Energy is a wholly owned subsidiary of the Tel Aviv stock exchange listed Delek Group Limited (TASE: DLEKG, US ADR: DGRLY), Israel’s leading integrated energy company.