COSL Drilling has awarded Soiltech a contract for treating contaminated water on the harsh environment, semi-submersible drilling rig COSLPromoter, with startup in the third quarter of 2024. This is a substantial¹ contract for Soiltech.
COSLPromoter is working for Equinor in Norway, under a contract which could have a duration of up to five years.
“We are proud to be awarded this contract by COSL which is a leading drilling contractor on the Norwegian Continental Shelf. Our focus is to deliver sustainable waste treatment services to COSL, by reducing the waste as much as possible on location, and thereby reducing the amount of waste sent to shore for disposal. This contributes to reduced carbon emissions and lower cost”, says Jan Erik Tveteraas, Soiltech’s CEO.
About Soiltech
Soiltech is an innovative technology company specializing in the treatment, recycling and sustainable handling of contaminated water and solid waste at site. Our technologies enable cost savings and lower CO2 emissions through waste reduction, waste recovery and reuse.
Soiltech AS has signed a merger plan with Oceanteam ASA. The combined company will seek listing on Oslo Børs under the name Soiltech ASA. It is anticipated that such listing will take place around the end of Q3 2024.
Soiltech operates world-wide and is headquartered in Norway. We are listed on Euronext NOTC in Norway under the ticker SOIL.
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1.Contract sizes
A sizable contract has an estimated value of NOK 3 – 10 million
A substantial contract has an estimated value of NOK 10 – 25 million
A large contract has an estimated value above NOK 25 million
Date: 18. July 2024
Contact:
Tove Vestlie, CFO, +47 90690648
Jan Erik Tveteraas, CEO, +47 95214925
