Equinor takes option on Odfjell Drilling semisub

Norwegian energy major Equinor has exercised further work to be added to Odfjell Drilling’s contract for the semisub rig Deepsea Stavanger.

Following this addition, the 2010-built rig now has six remaining wells to be drilled.

The value for the additional work is similar to the current contract which includes a performance incentive rate that will apply when wells are delivered safely and ahead of target. Integrated services are provided through the contract and compensated separately.

The option has been exercised under the continued optionality mechanism in the contract entered into between the parties in May 2021 as part of the overall master frame agreement. The rig is now expected to be occupied into Q4 2022.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
Back to top button