Odfjell Drilling has secured two contracts for its Deepsea Atlantic to conduct operations within the North Sea area for Equinor.
The offers, beforehand unveiled by way of two letters of intent, have a mixed agency period of 23 months.
Deepsea Atlantic is a sixth technology deepwater and harsh surroundings semi-submersible. This unit, together with its sister rigs Deepsea Stavanger and Deepsea Aberdeen, is a twin derrick, dynamic-positioned unit of enhanced GVA 7500 design.
The contract invoice exhibits a determine of $290 million, excluding built-in companies, upgrades/modifications or mobilization charges. In accordance with Odfjell, there are provisions for efficiency bonuses and gas incentives, included within the contract.
Along with the agency contract intervals, there are 4 priced one-well choices and three additional elective intervals of roughly one 12 months every, with the charges for every interval to be mutually agreed previous to exercising, Odfjell mentioned.
The work will start instantly following completion of the Particular Periodic Survey for the Deepsea Atlantic, which is presently deliberate for the primary half of 2024.
The Deepsea Atlantic is now signed as much as agency contracts till mid-2026, with choices that reach to 2029.
Along with the 2 contracts, Odfjell Drilling and Equinor have agreed to work on issues of mutual strategic significance. With a give attention to security, drilling effectivity and decrease emissions this settlement shall present the framework for a joint effort and longer-term collaboration on these key issues.
“We’re happy to substantiate that the Deepsea Atlantic will proceed to work with Equinor underneath the brand new contract which may see the rig in steady operation till 2029, delivering sturdy, predictable money technology from the unit,” mentioned Odfjell CEO Kjetil Gjersdal.
“Having labored with Equinor on many challenge developments by way of the years, we’re happy to have signed a strategic collaboration settlement to additional develop our mixed capabilities to ship protected and environment friendly operations. Steady growth of our workflows and applied sciences is a key focus for Odfjell Drilling and we look ahead to seeing the outcomes of this initiative,” Gjersdal mentioned.
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