Odfjell Drilling will take over operations from the current contractors in Q3 this year.
Mr. Simen Lieungh, President and CEO of Odfjell Drilling say:
“This award from TAQA recognises Odfjell Drilling as a quality provider of platform drilling and maintenance services with a strong focus on safe and efficient operations. We welcome and appreciate this significant contract award from TAQA and look forward to a long and productive working relationship. We know that TAQA expects us to deliver on performance and I can assure that we will demonstrate the company's firm commitment to successful future drilling services to TAQA.”
The contract includes drilling and maintenance services on the following fixed installations;
Cormorant Alpha - a drilling and production installation for the South Cormorant field in Block 211/26a in the East Shetland Basin of the Northern North Sea.
North Cormorant - a drilling and production installation for the North Cormorant field in Block 211/21 in the East Shetland Basin of the Northern North Sea.
Eider - a fixed installation serving as a manned production facility for the Eider Field, in Block 211/16a in the East Shetland Basin 114 miles North East of Lerwick.
Tern Alpha - a drilling and production installation for the Tern field in block 210/25 in the East Shetland Basin 105 miles North East of Lerwick. The platform also serves as a production facility for the Hudson and Kestrel fields.
Harding - a heavy-duty jack-up production unit, resting on a gravity base storage tank capable of holding 600,000 barrels of oil, serving as a manned production facility for the Harding Field, in Block 9/23b, 320 kilometres North East of Aberdeen in the Central North Sea.
TAQA is a returning customer for Odfjell Drilling (UK) and it is a much appreciated and welcomed opportunity to expand our platform drilling activities in the UK in addition to the BP and Statoil contracts. With this award, we increase the number of Odfjell Drilling services on platforms from 10 to 15 installations. With this new contract, Clair Ridge (BP) and Mariner (Statoil), it also means that we will further expand our work force in UK with around 100 people during this year.
Odfjell Drilling has been awarded a platform drilling contract with EnQuest for drilling and maintenance on the Magnus platform on the UK continental shelf. The contract includes three firm wells plus two optional wells, and is expected to commence November 1st 2017.
The shareholders of Robotic Drilling Systems AS (“RDS”) have today entered into an agreement to sell all shares in RDS to Nabors Industries (“Nabors”). Odfjell Drilling holds, through its fully owned subsidiary Odfjell Drilling Technology Ltd, approximately 37% of the shares in RDS.
On 10 August 2017, Odfjell Drilling signed a contract with Aker BP ASA for Deepsea Stavanger (6th generation semi-submersible) for a period of approximately 9 months with commencement in February 2018 and completion around October 2018.
Odfjell Rig II Ltd., a subsidiary of Odfjell Drilling Ltd. and rig owner of Deepsea Bergen, has today received a firm offer from its bank syndicate to amend and extend its senior secured term loan facility.