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Odfjell Drilling enters into a drilling and well alliance


Odfjell Drilling has entered into a drilling and well alliance formed by Aker BP. The agreement has a total duration of 5 years plus 5 optional years.

The intent is that the alliance shall plan and execute sanctioned production and exploration drilling activities by using an integrated well delivery model. This means that Odfjell Drilling will drill wells suitable for semi-submersibles for Aker BP, subject Odfjell Drilling's rig availability and that the alliance model is approved in the respective licenses.

The area of operation will be on the Norwegian Continental Shelf.

Quote from Simen Lieungh, CEO:
"The award from Aker BP is recognition of Odfjell Drilling's capabilities to deliver safe and efficient operations. Aker BP's focus on innovation and collaboration is a perfect match with our operational philosophy and we believe that digitalization is a key enabler for further increasing productivity in drilling operations. In order to successfully deliver on this agenda, the parties need to collaborate closer over time and this alliance is an important step in that direction".

For further queries, please contact:
Eirik Knudsen, VP Corporate Finance & Investor Relations
+47 934 59 173

Hamilton, Bermuda
21 November 2017
Odfjell Drilling Ltd.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.