The estimated duration is approximately 50 days plus possible well testing.
The addition of the well with MOL Norge will keep Deepsea Bergen continuously employed during 2019. The contract value is estimated to USD 9 million plus potential incentive bonus.
Deepsea Bergen is currently working for Equinor, which is now expected to be completed around January 2019, after which it will continue with contracts with one well for Ithaca Energy in the UK and one HPHT well for OMV Norge.
For further queries, please contact:
Eirik Knudsen, VP Corporate Finance & Investor Relations
+47 934 59 173
30 October 2018
Odfjell Drilling Ltd.
Odfjell Drilling has today signed a Letter of Intent for Deepsea Bergen with MOL Norge for one exploration well in direct continuation of the contract with OMV Norge, estimated to expire in Q3/Q4 2019.
Odfjell Drilling has today 11. September 2018 signed a contract with Ithaca Energy (UK) Limited for one firm production well, plus optional wells with commencement in either 2019 or 2020 to be mutually agreed, on the UK Continental Shelf ("UKCS").
Reference is made to the stock exchange notice of 21 April 2017 whereby Odfjell Drilling announced a one-well contract plus two optional wells for its semi-submersible Deepsea Bergen with OMV (Norge) (“OMV”). The first well was finalized in April 2018 with a successful discovery as earlier reported by OMV.
ODL – Odfjell Drilling signs drilling contract for Deepsea Atlantic and the Master Frame Agreement with Equinor