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.
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.