Norway’s Equinor has exercised one additional well to be added to Odfjell Drilling’s contract for the 2010-built semisub Deepsea Stavanger.
.The additional well will follow the current firm period of three wells which commences during the first quarter of 2022.
The value for the additional well is around $20m and the contract includes a performance incentive rate which will apply when wells are delivered safely and ahead of target. Integrated services are provided through the contract and compensated separately.
The well has been exercised under the continued optionality mechanism in the contract entered into between the parties in May 2020, as part of the overall master frame agreement. The rig, which will join its sister units Deepsea Atlantic and Deepsea Aberdeen is now expected to be occupied into Q3 2022.
