The company has taken the rig on an assignment awarded to it by ExxonMobil Deepwater Rig.
Statoil Canada Exploration head Geir Richardsen said the company has ambitious exploration targets offshore Newfoundland, and securing rig capacity is essential for reaching those targets.
"We look forward to putting this rig’s capabilities into action," said Richardsen.
The rig is a sixth generation semi-submersible DP3 vessel which can operate in harsh environments up to 3,000m water depth.
The company will commence a three-well drilling program in late 2012 and include two exploration wells in the Flemish Pass Basin as well as an exploration well in the Jeanne d’Arc Basin.
