Aker BP is to press ahead with new exploration in the North Sea.
The move means the Transocean Arctic rig has secured work until 2019.
According to reports, the firm has hired the rig to work on four wells in a deal worth an estimated $44.75million.
The first two wells to be drilled will be on the Volund field while the two follow up wells will be on the Alvheim field.
Aker BP boss Karl Johnny Hersvik said the firm continues to look at drilling opportunities with plans for an exploration campaign next year.