Awilco Offshore has agreed a deal with ConocoPhillips Skandinavia to extend the contracts for the Port Rigmar and Port Reval flotels.
The US $375 million deal will see the two rigs staying on with ConPhil for an accumulated period of approximately five years.
Port Rigmar is currently on Ekofisk, and its contract will be extended from October 2009 until October 2012.
Port Reval is currently contracted for work at Eldfisk until April 2009, and following regular five yearly class work, will restart operations in early July 2009 lasting until July 2011.