Oslo-listed semisub player Odfjell Drilling has firmed up deals with Equinor for its 2012-built rig Deepsea Atlantic.
.The contracts have a combined firm duration of 23 months and a value of about $290m, excluding integrated services, rig upgrades, or mobilisation fees. The rig will also be awarded provisions for performance bonuses and fuel incentives.
The arrangement comes with four priced one-well options attached and three additional optional periods of about one year each, with the rates for each period to be mutually agreed upon before exercising.
The rig has now been fixed until mid-2026, with options that extend to 2029. The work is expected to start after the completion of the special periodic survey planned for the first half of 2024.
In addition, Odfjell Drilling and Equinor have also entered into a strategic collaboration agreement which will see the duo focus on safety, drilling efficiency and lower emissions.
