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BP signs up Deepsea Stavanger for Angola

BP signs up Deepsea Stavanger for Angola

BP and Odfjell Drilling have signed a two-year agreement for Deepsea Stavanger for drilling on Block 18 in Angola. The contract ensures a long-term engagement and continuity for the Deepsea Stavanger. BP has three one-year options for further utilisation of the rig. 

BP Chief Procurement Mr Tim Bass & CEO Odfjell Drilling Mr Ketil Lenning signed the drilling contract for Deepsea Stavanger today Deepsea Stavanger was delivered from Daewoo Shipbuilding & Marine Engineering (DSME) in South Korea in July this year and started its first drilling operation offshore Tanzania in a deepwater drilling programme for Ophir Energy plc.

‘This agreement is a significant one for Odfjell Drilling in that it secures the company’s position in the market. Odfjell Drilling has a good working relationship with BP in connection with its platform drilling operations in the North Sea and it is very gratifying that the relationship is now being extended,’ says Odfjell Drilling’s CEO Ketil Lenning.

The agreement has a value of approximately 340 million USD for the fixed period. Expected commencement is 1/2 Q 2011.

Focus on safety and the environment
Deepsea Stavanger is equipped with the best available technology in terms of crew safety, environmental considerations and efficient drilling operations. The rig can operate in all areas of the world including in harsh environments and at water depths of down to 3,000 metres. They are built to comply with Norwegian regulations and applicable international standards.

Press release Norwegian 22. Oktober 2010

Image: Contract signing high resolution for download (jpg)
 


For further information please contact:
Ketil Lenning - CEO Odfjell Drilling
Tel: +47 55 99 00 00 / Mobile: +47 91 19 08 11

Atle Sæbø - CFO Odfjell Drilling
Tel: +47 55 99 00 00 / Mobile: +47 93 24 03 06

Published: 22.10.2010
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