The contract commencement is back to back with completion of the upcoming contract with Wintershall Norge on the Maria field. The contract value including compensation for mobilization/demobilization period is estimated up to USD 55 million. The company expects the drilling of the well to take 60-80 days.
- We are very pleased to receive this sign of commitment and confidence. The companies have collaborated closely on this challenging project for many months and believe together we have a technical and operational solution to meet the unique combination of harsh environment conditions encountered on site.
This project with its technical complexities, deepwater and harsh environment is considered an ideal match for Odfjell Drilling as we strengthen our position as contractor of choice for challenging harsh environments. - says CEO Simen Lieungh.
For further queries, please contact:
Eirik Knudsen, VP Corporate Finance & Investor Relations
+47 934 59 173
1 March 2017
Odfjell Drilling Ltd.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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.
Further to the conditional letter of award ("CLOA") as announced on 1 March 2017, Odfjell Drilling has now been awarded the contract as described in the CLOA.
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.