Equinor takes option on Odfjell Drilling semisub

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.

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.
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