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Odfjell Drilling Ltd: Deepsea Bergen finishes yard stay ahead of schedule

29.10.2013

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

Hamilton, Bermuda 29 October 2013. The yard stay for Deepsea Bergen was successfully finalised two days ahead of schedule. The rig will today restart operations for Statoil with increased deck load capacity and improved operational capacities.

Odfjell Drilling's semisubmersible Deepsea Bergen, has since the start of October undergone a client funded yard stay at the Coast Center Base, Bergen, to meet client requirements. The rig modifications were finalised in 26 days, two days ahead of schedule.

"This project shows Odfjell Drilling's ability to perform complex yard stay projects according to plans. High quality planning, project management and well organised cooperation between all parties involved are the main factors behind the successful project completion," says Simen Lieungh, CEO of Odfjell Drilling.

The rig has been modified with blisters improving the variable deck load capacity by approximately 1,000 tons. The modifications make Deepsea Bergen more robust to perform well completion and other operations demanding high deck loads.

Other modifications involve:

- New office module
- Change of cementing unit, completion unit and other third party equipment
- New BOP crane
- Local electrical room for new facilities

Deepsea Bergen is drilling production wells under a long term contract with Statoil on the Norwegian Continental Shelf.

As part of the agreement with Statoil, Deepsea Bergen has been on zero rate for five (5) days during this project, which is two days less than originally planned for. For the remainder of this project, Deepsea Bergen has earned a combination of stand-by and moving rate.

For further queries, please contact:
Gisle Johanson, SVP Communications, Odfjell Drilling
+47 414 40 050
gijo@odfjelldrilling.com

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