ConocoPhillips announced a contract with Doyon Drilling Monday for a new rotary drilling rig.

The new rig, to be named Doyon 142, will join two other new additions to the North Slope fleet, Nabors 7ES and Nabors 9ES, and is expected to begin drilling in February 2016. The company says it is the first of its kind in the fleet since 2000. 

While the company says they are happy to be able to add over 100 direct jobs and hundreds of indirect jobs, the announcement is, for them, indicative of the success of Senate Bill 21, or the More Alaska Production Act.

“The addition of Rig 142 to Doyon’s fleet is a testament to ConocoPhillips’ commitment to Alaska," said Doyon President and CEO, Aaron Schutt. "The contract for the rig is long-term and is one example of how Senate Bill 21 is making a positive impact on Alaska’s economy. This opportunity is good for Doyon, its
shareholders and Alaska."

ConocoPhillips currently has six development rigs on the North Slope, and an additional rig in the Beluga River Unit in Cook Inlet, according to spokesperson Natalie Lowman.