August 15, 2019

Island Drilling Company AS announced that the company has received an LOI from Capricorn Norge AS, to drill one well on Duncan prospect – Block 35/8 in the North Sea and two optional wells.
Drilling is scheduled to commence in Q2 2020. Island Drilling Management will be responsible for the operation of the Island Innovator.
Island Drilling Company AS is grateful that the Island Innovator has been chosen for this scope.
Capricorn Norge AS is a wholly owned subsidiary of Cairn Energy PLC and the Operator of License 880, Duncan prospect with holding a 60% interest.
Island Innovator is a Global Maritime GM400-WI midwater harsh-environment semi-submersible built by COSCO in China and delivered in 2012. The semi-submersible is reported ready stacked in Vardoyna, Norway)
Island Drilling was established in 2006 by industry veterans and Island Offshore, the leading global player in well intervention, to build and own special purpose semi-submersible rigs for heavy well intervention operations, including coil tubing operations, through tubing rotary drilling (TTRD) I was meant to complement the fleet of light well intervention vessels. The company took delivery of the rig from China’s Cosco Zhoushan Shipyard in 2012. After successfully drilling 21 wells since 2013, the vessel has proved its ability to operate in harsh environment covering the North Sea, Norwegian Sea and the Barents Sea.
(Source: Island Drilling)