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.
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.