OREANDA-NEWS. Statoil has decided to suspend Scarabeo 5 due to overcapacity in its rig portfolio.

The suspension will take effect once Scarabeo 5 has completed drilling of a well on the Kristin field in the middle of August, 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 at the time of suspending the rig,” says Jon Arnt Jacobsen, senior vice president of Procurement in Statoil.