John Fredriksen’s Seadrill has secured a multiple well contract with Var Energy for its semi-submersible rig West Phoenix for work on the Balder re-development project in Norway.
The total contract value for the firm period of the contract is about $302m with commencement expected at the end of second quarter of 2021 and running through the third quarter of 2023.
The contract is still subject to authority approval of the Balder future plan for development and operations.