ODFJELL DRILLING SECURES CONTRACT EXTENSION FOR DEEPSEA STAVANGER
Odfjell Drilling announced that Equinor has exercised options for seven wells to extend the use of the Deepsea Aberdeen on the Breidablikk field.
The exercised options are planned to start in mid Q1 2025 in direct continuation of the current firm period and extend the firm backlog on the Deepsea Aberdeen to end of Q4 2025. The options have a value of approximately USD 138 million, excluding integrated services, performance and fuel incentives.
In addition to the exercised wells, the contract now includes further optional periods which, if exercised, could keep the Deepsea Aberdeen contracted to 2029.
Such optional periods consist of six optional wells followed by three further optional periods of eight wells each, or approximately three times one-year. The rates for all such optional periods are to be mutually agreed prior to exercising.
Deepsea Stavanger a GVA 7500 ultra-deepwater semi-submersible was delivered in 2010 at Daewoo Okpo shipyard in South Korea.
(Source and image: Odfjell Drilling – Deepsea Stavanger)