SEPTEMBER 25, 2013 — Norway's Statoil has awarded Oslo based design and engineering house Inocean a contract for the concept design for its new CAT I drillship.

Inocean CEO Jon Erik Borgen says the contract, which includes an option for FEED (front-end engineering and design), is his company's most important ever.

According to Statoil, CAT I will be a new arctic drilling unit able to operate across its arctic acreage.

"Being developed for arctic operations, we are probably speaking of the most advanced and sophisticated unit evolved within drilling operations," says Mr. Borgen. "Having this opportunity to develop the drillship of tomorrow is a big recognition of our design and engineering capabilities. We also appreciate that a Norwegian designer was chosen by Statoil in a strong competition with several major international players."

Inocean says the CAT I Drillship will be tailored for the Statoil Arctic step-up program through suitable winterization, increased capabilities and a hull suitable for operations in ice infested waters. It is designed to minimize the environmental footprint and arranged with maximum focus on HSE. The design is based on the INO-80 Drillship