Odfjell inks £120m drilling contract with Equinor

The Deepsea Atlantic is operated by Odfjell Drilling AS.
The Deepsea Atlantic is operated by Odfjell Drilling AS.

Contractor Odfjell Drilling today announced a £120 million deal with Equinor for the Deepsea Atlantic rig.

The agreement contracts Odfjell to drill six firm wells over 18 months.

Work will commence in the first quarter of 2019.

The deal was previously announced as part of a letter of intent signed between Equinor, then Statoil, and Odfjell in April.

The pair also signed a “master frame agreement” for all the drilling units in Odfjell’s fleet. The pact be the foundation for any future rig requirements which may be agreed between the parties.

Odfjell chief executive Simen Lieungh said: “A long term cooperation with Equinor is a key cornerstone in Odfjell Drilling’s long term strategy for growth on the NCS.  The Master Frame Agreement formalizes this co-operation and allows the parties to work closer in developing new technologies and new ways of working to achieve even more efficient operations.

“The drilling contract for Deepsea Atlantic is hopefully the first of many opportunities to be realized under the Master Frame Agreement. Odfjell Drilling looks forward to being a key contributor to Equinor’s ambitious targets for drilling on NCS.”

 

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