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| Name | Symbol | Market | Type |
|---|---|---|---|
| Equinor ASA | NYSE:EQNR | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.33 | 1.22% | 27.32 | 27.64 | 27.27 | 27.54 | 1,422,502 | 15:45:43 |
From May 2019 to May 2024
By Dominic Chopping
Norway's Statoil ASA (STO) on Wednesday said it has suspended the Scarabeo 5 drilling rig due to over capacity in its rig portfolio, the second such move in a week, as it continues to cut costs amid a low oil price environment.
Scarabeo 5 will be suspended in the middle of August, once it has completed drilling of a well on the Kristin field in the Norwegian Sea, and will last until 1 March 2016.
"We regret the need to suspend Scarabeo 5, but we will do our utmost to resume our drilling operations earlier than planned," said Jon Arnt Jacobsen, senior vice president of Procurement.
A week ago the company cancelled a contract with the COSL Pioneer drilling rig some 13 months before it expires, as the company had failed to find work for it amid an over capacity of rigs.
The oil and gas major is cutting jobs and seeking efficiencies as it targets $1.7 billion of annual savings from 2016.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @WSJNordics
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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