Siem WIS enters into frame agreement
Siem WIS has entered into a frame agreement with Statoil ASA for the provision of RCD services.
Press Release Straume 21.12.2016
On the 9th of December 2016 Siem WIS entered into a frame agreement with Statoil ASA for the provision of Rotating Control Device (RCD) services on the Norwegian Continental Shelf. The RCD is used in connection with Managed Pressure Drilling (MPD) operations, a drilling technique that offers new and improved ways to drill wells.
The agreement period is from the 1st of January 2017 to the 31st of August 2020, with 2 times one year options (44+12+12 months).
Siem WIS has been providing the RCD services to Statoil using its patented PCD 5000 systems for the last 2 years, and the PCD 5000 system has proven its reliability in operation.
This agreement is a milestone in Siem WIS’ history and marks the final transition from development, qualification, through initial field operations to a commercially available PCD service, says Geir Ove Nordheim CEO Siem WIS.