The contract is for exploration and development drilling at various locations in the Norwegian Sea and the Barents Sea. The contract will follow from the estimated completion of the Wintershall Maria contract and continue until the Deepsea Stavanger is due to mobilise to South Africa to complete one well for Total. The contract value is estimated up to USD (68) million.
Quote from Simen Lieungh, CEO:
“The contract with Aker BP is an important opportunity for Odfjell Drilling to demonstrate its continued exceptional track record and develop a relationship with potentially one of Norway’s largest oil companies. Aker BP’s focus on digitalisation is very exciting and appealing for our company’s operational philosophy and appetite to work with operators in developing tomorrow’s technology.”
For further queries, please contact:
Eirik Knudsen, VP Corporate Finance & Investor Relations
+47 934 59 173
10 August 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.