Odfjell Well Services is one of three successful bidders selected to provide these services both onshore and offshore. Currently there are over 120 rigs working onshore in Kuwait, however this is expected to increase significantly during 2018.
The firm duration of the contract is 5 years, based on call off services and is expected to commence in January 2018.
George Taggart, EVP Odfjell Well Services says; “This is an extremely important contract for Odfjell Well Services and builds upon our strategy to grow in new geographical markets. Kuwait is currently one of the largest growing markets in the world and this contract assures our position as one of the leading service companies in the region for many years to come.”
For further queries, please contact:
Eirik Knudsen, VP Corporate Finance & Investor Relations
+47 934 59 173
16 January 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