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.
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
Please find attached the Q1 2018 Presentation which will be used as a basis for today’s investor conference call at 15.00hrs CET.
Odfjell Drilling Ltd. reports for the first quarter of 2018
Reference is made to the stock exchange notice of 19 April 2018 whereby Odfjell Drilling Ltd ("Odfjell Drilling " or the "Company") announced the successful completion of the private placement raising gross proceeds of approximately USD 175 million (the “Private Placement”) with the purpose of financing growth within its mobile offshore drilling fleet and general corporate purposes.