John Fredriksen’s SFL Corporation has secured employment with Portugal’s Galp Energia for its 2008-built harsh environment semisub rig Hercules.
. The New York-listed diversified owner, with investments also in tankers, containerships, dry bulk vessels and car carriers, will see the unit managed by Odfjell Drilling work in a hot spot for offshore exploration, Namibia, earning $50m from the deal.
The contract is for two wells plus optional well testing and is expected to start in the fourth quarter of 2023. Without any options, the duration is approximately 115 days, including mobilisation to Namibia.
The rig is currently undergoing a special survey in Norway before its mobilisation to Canada for a contract with ExxonMobil before commencing transit to Namibia. The new deal will keep the rig continuously employed until the end of the first quarter of 2024. SFL also owns the 2014-built jackup rig Linus, currently on charter with ConocoPhillips Skandinavia until Q4 2028.
