Odfjell Drilling has on 9 June 2017 signed a contract with Wellesley Petroleum AS for one firm exploration well, plus an optional well testing and sidetrack, on the Norwegian Continental Shelf ("NCS"). The contract commencement is scheduled to Q3/Q4 2017 and will be followed by a contract on Norwegian Continental Shelf with OMV Norge for a one firm "high pressure high temperature" well ("HPHT-well") plus options for two wells as earlier announced.
Deepsea Bergen is now working for Faroe before the rig will recommence the Statoil contract and complete the remaining drilling program of one well at contract day rate.
For further queries, please contact:
Eirik Knudsen, VP Corporate Finance & Investor Relations
+47 934 59 173
9 June 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 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.