The LoA includes one firm well plus 4 x 3 optional wells, which in total can secure work for Deepsea Bergen up to 14 months. The estimated start up is Q2/Q3 2018 in direct continuation with the OMV drilling program and contract value is up to USD 55 million (including the firm well and 3 priced options). In addition there is one option at market rate.
It has been further agreed to suspend completion of the current Deepsea Bergen Statoil contract and re-arrange the drilling schedule, allowing an earlier commencement of the 1 + 1 well contract with Faroe. After the completion of the Faroe well, the rig will re-commence the Statoil contract and complete the remaining drilling program of one well at the contract day rate.
For further queries, please contact:
Eirik Knudsen, VP Corporate Finance & Investor Relations
+47 934 59 173
31 May 2017
Odfjell Drilling Ltd.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Odfjell Drilling has been awarded a 2-year fixed contract with no limit of 1-year options from TAQA Bratani for Drilling and Maintenance services on five platforms on the UK continental shelf.
Reference is made to the stock exchange notice of 3 April 2017 whereby Odfjell Drilling announced a letter of intent for its semi-submersible Deepsea Bergen.
Odfjell Drilling has, on 31 May 2017, signed a letter of award ("LoA") with Statoil to secure Deepsea Bergen for drilling activities in 2018-2019.
Reference is made to the stock exchange notice of 15 March 2017 whereby Odfjell Drilling announced a letter of intent for its semi-submersible Deepsea Bergen.
Odfjell Drilling has received a letter of intent from an undisclosed party for further employment for its 3rd generation semi-submersible, Deepsea Bergen, for one firm exploration well plus optional sidetrack and well testing on the Norwegian Continental Shelf (“NCS”).