Odfjell Drilling lines up more work for semisub

Oslo-listed semisub player Odfjell Drilling said that Equinor had exercised a further well for the 2010-built rig Deepsea Stavanger.

The dayrate is similar to the current contract up to May 1, 2023, from which time there is an increase if certain CO2 targets have been achieved, Odfjell Drilling said, adding that a notable performance incentive rate will also apply when wells are delivered safely and ahead of target.

The well has been exercised under the continued optionality mechanism in the contract entered into between the parties in May 2021.

Following the exercising of this well, which has an estimated duration of 120 days, the Deepsea Stavanger’s firm backlog now extends into Q4 2023. Equinor has the opportunity to exercise further wells under the deal.

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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