The contract is awarded by Total E&P South Africa and is for a one well plus one optional well to be drilled by the 6th generation semi-submersible, Deepsea Stavanger, offshore South Africa.
The contract commencement shall be between June 2018 and April 2019 and shall be back to back with completion of the ongoing contract with Wintershall Norge on the Maria field or any subsequent contract.
The contract value including compensation for mobilization /demobilization period is estimated up to USD 55 million. The company expects the drilling of the firm well to take 60-80 days.
For further queries, please contact:
Eirik Knudsen, VP Corporate Finance & Investor Relations Tel. +47 934 59 173, email@example.com
4 July 2017
Odfjell Drilling Ltd.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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.
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.