"Odfjell Drilling welcomes the opportunity to continue its collaboration with StatoilHydro and Songa Offshore ASA as contractor for the operation of Deepsea Trym," says Odfjell Drilling CEO Ketil Lenning.
Contract until 2011
Deepsea Trym, which is owned by Songa Offshore ASA and operated by Odfjell Drilling, will continue to be operated by Odfjell Drilling under the extended contract. While the current rig contract expires first quarter 2009, the new contract will ensure work for the rig for a further two years with a possible one year option. The contract with StatoilHydro also includes an option for one more year, extending the contract period until the first quarter 2012 if the option is exercised.
Deepsea Trym was sold to Songa Offshore ASA in January 2007 as part of Odfjell Drilling's fleet renewal strategy with a leasing and management agreement whereby Odfjell Drilling was to operate the rig for the remaining contract period with StatoilHydro until the first quarter 2009. As a result of the extended contract, Odfjell Drilling will still have full operational responsibility for the rig.
Odfjell Drilling - two new 6th generation semisubmersibles
When Odfjell Drilling's newbuild, Deepsea Atlantic - a sixth generation semisubmersible under construction at Daewoo in Korea - starts drilling operations for StatoilHydro in the first quarter next year, Odfjell Drilling will have four mobile drilling units operating on the Norwegian Continental Shelf. In June 2010 the fleet will increase with the delivery of Deepsea Stavanger.
Odfjell Drilling also carries out platform drilling on 10 fixed installations on the Norwegian Continental Shelf as well as extensive deliveries of well services and technology services. This new contract will further strengthen Odfjell Drilling's position as a leading drilling operator on the Norwegian Continental Shelf.