iMarine

Island Drilling Secures $330M Long-Term Charter with Equinor for Semi-Submersible Rig

Island Drilling, a Norwegian rig owner and operator, has announced that it has signed a long-term charter contract with Equinor for a semi-submersible drilling rig.

Under the contract, Island Drilling will deploy its semi-submersible drilling rig Island Innovator to carry out plugging and abandonment works on the Norwegian continental shelf.

The three-year contract, with five one-year extension options, is valued at $330 million and includes mobilization, integrated services and conversion. The contract is expected to begin performance in the first quarter of 2026.

Island Drilling said the new contract will have a positive impact in the region, including an additional 10 to 15 employees onshore in Bergen and Stavanger, and 80 to 100 employees offshore.

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