Odfjell Drilling awarded a contract with Total E&P South Africa
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. The contract is awarded by Total E&P South Africa and is for a one well plus one optional well to be drilled by the 6th generation semi-submersible, Deepsea Stavanger, offshore South Africa.
The contract commencement shall be between June 2018 and April 2019 and shall be back to back with completion of the ongoing contract with Wintershall Norge on the Maria field or any subsequent contract.
The contract value including compensation for mobilization/demobilization period is estimated up to USD 55 million. The company expects the drilling of the firm well to take 60-80 days.
For further queries, please contact:
Eirik Knudsen, VP Corporate Finance & Investor Relations
+47 934 59 173
4 July 2017
Odfjell Drilling Ltd.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.