The Deepsea Atlantic semi-submersible drilling rig will proceed serving the Norwegian power large Equinor ASA till the top of the second quarter of 2027. Odfjell Drilling Ltd mentioned in a media launch that the unit will proceed working below beforehand agreed phrases till the center of the third quarter of 2026.
The present contract will expire within the third quarter of 2026. “After this, the unit will then proceed with Equinor till end-Q2 2027 for an approximate incremental worth of $148 million excluding escalation charges, built-in providers, efficiency bonuses and gas incentives”, Odfjell Drilling mentioned.
“The contract maintains additional non-obligatory intervals of 4 priced one effectively choices in addition to three additional non-obligatory intervals of roughly one 12 months every, with the charges for every interval to be mutually agreed previous to exercising. If exercised, such choices might hold the Deepsea Atlantic contracted into 2030”.
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“With this extra backlog, the Odfjell Drilling-owned fleet is now absolutely booked till 2027 with a big, predictable, and rising income backlog. As well as, we’re more than happy so as to add additional tenure with our long-standing shopper, Equinor, with whom the Deepsea Atlantic has been contracted since 2009”, Kjetil Gjersdal, Chief Government Officer of Odfjell Drilling, mentioned.
Just lately Odfjell Drilling and Aker BP ASA amended the contract for Deepsea Nordkapp. The prolonged contract time period began January 1, 2025, straight persevering with from the present agency contract and can run for a set period of two years, Odfjell Drilling mentioned.
The corporate added that the 2 further years are compensated on a market-based price mechanism. As beforehand agreed with Aker BP in 2022, the contract worth for 2025 has a flooring and ceiling day price, leading to a contract worth of $124 million to $146 million, the corporate mentioned.
To contact the creator, e mail andreson.n.paul@gmail.com
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