The West Hercules semi-submersible rig has been contracted by oil and gas giant Statoil for a two well drilling project in the Barents Sea this year.
The total contract amount is between £10-£14million for the two well project.
Signing a deal with North Atlantic Norway Ltd for the 6th generation rig, the two well deal has a potential for a further five well option.
Drilling is due to begin in late summer of 2018.
Geir Tungesvik, head of Drilling and Well in Statoil, said: “We have chosen this rig because it is winterized and ready for use in cold waters. We have used this rig before, both in the northern part of the Norwegian continental shelf and in Canada.
“We expect North Atlantic Norway to provide safe and efficient operations.”