Worldwide drilling contractor Northern Ocean Ltd. (NOL) has entered right into a letter of intent (LOI) with nicely management know-how firm Kinetic Strain Management.
The LOI is for the outfitting of NOL’s sixth technology semi-submersibles, the Deepsea Mira and the Deepsea Bollsta, with the Kinetic Blowout Stopper (Ok-BOS), a system that allows the securing of wells in lower than a second. The Ok-BOS system additionally has the power to eradicate unshearable and unsealable conditions, NOL stated in a information launch.
Ok-BOS will improve NOL’s aggressive place available in the market and skill to safe new contracts within the ultra-deepwater and harsh setting segments, the corporate remarked. “The Ok-BOS profitable monitor report mixed with the rising requirement from our purchasers makes the Ok-BOS a pure match to our tier 1 models and to a rising curiosity from oil and fuel corporations,” it added.
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NOL CEO Arne Jacobsen stated, “It is a strategic step for NOL to additional improve the potential of our fleet. The choice to supply the Ok-BOS system to our purchasers will improve the potential and attractiveness of our drilling models to our discerning purchasers working in ultra-deepwater and harsh environments. We sit up for working with Kinetic’s glorious crew to combine the Ok-BOS tools with the prevailing nicely management tools on each our models”.
Kinetic CEO Steven Angstmann stated, “Northern Ocean’s dedication to develop Ok-BOS options for the Deepsea Mira and Deepsea Bollsta highlights the worth that this know-how brings to our purchasers. We consider the operators of those models will profit from Ok-BOS’s skill to safe the nicely in all circumstances. Ok-BOS permits these class main rigs to set a brand new normal for decreasing the chance of a significant spill to as little as fairly practicable. We sit up for working with the nice crew at NOL on these initiatives”.
Kinetic is a nicely management know-how firm that designs, manufactures and gives progressive wellhead and stress management tools.
Contract with Springfield in Ghana
Final month, NOL signed a strategic alliance settlement in Ghana and a contract with the Springfield Group of Corporations for the usage of the Deepsea Bollsta on a nicely check of the Afina 1x nicely, amongst different actions.
The strategic alliance contains mutual exclusivity to discover a long-term discipline improvement program in Ghana. The agency contract period is for one nicely check estimated to be 30-35 days and can start early within the fourth quarter, NOL stated in a separate information launch. The agreed clear day fee is $440,000, excluding mobilization and demobilization.
Jacobsen stated, “We’re excited to announce this strategic alliance settlement with Springfield, which is a vital step within the firm’s plan to construct a stable order backlog. As well as, this alliance creates the muse for NOL and Springfield to construct a long-term relationship in Ghana the place Springfield is a vital operator”.
The short-term work upfront of the already introduced drilling contract proves that it’s potential to backfill idle intervals in direct discussions with oil corporations. Though it’s short-term work it brings the Deepsea Bollsta again in operation sooner than anticipated, and NOL provides an necessary oil firm in West Africa to its listing of purchasers. This demonstrates that NOL’s superior belongings mixed with Odfjell Drilling’s operation is a really enticing resolution for our purchasers,” Jacobsen added.
Springfield CEO Kevin Okyere stated, “The appraisal of Afina 1x by way of a nicely check helps finalize the unitization between Springfield- ENI/ Vitol and can carry important worth to the federal government of Ghana and all stakeholders concerned on this unitization”.
“Along with GNPC and GNPC Explorco, our companions, we’re actually excited to be working with NOL on this historic drilling marketing campaign as the primary impartial African firm to function in deep waters. The success of this marketing campaign will end in us being the primary impartial African producer in deep waters as nicely. NOL’s spectacular monitor report, effectivity and experience make them a great companion for Springfield as collectively we now have managed to plan and we are going to execute this drilling marketing campaign in a secure, environment friendly method. Collectively in our partnership, we sit up for constructing a mutually helpful long-term relationship that brings important worth to all our stakeholders,” Okyere concluded.
To contact the creator, e mail rocky.teodoro@rigzone.com
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