Equinor has added additional firm scope for the Deepsea Aberdeen as provided for
in the contract entered into by the parties in November 2020. The new wells,
which shall be drilled on the Svalin field starting in Q4 2023 have an estimated
duration of 174 days, extending the Deepsea Aberdeen’s firm backlog into Q2
2025. Equinor has the opportunity to exercise further wells under the
optionality mechanisms contained in the contract. The added firm scope has an
approximate value of USD 67 million , excluding integrated services, performance
and fuel performance incentives.
Equinor has exercised further wells for the Deepsea Stavanger under the
continued optionality mechanism provided for in the contract entered into by the
parties in May 2021. Following the exercising of the optional wells, Deepsea
Stavanger’s firm backlog with Equinor now extends into Q1 2024. Equinor has the
opportunity to exercise further wells under the continued optionality mechanism.
A notable performance incentive rate in addition shall apply when wells are
delivered safely and ahead of target. Integrated services are provided through
the contract and compensated separately.
For further queries, please contact:
James Crothers, Investor Relations Officer
+44 (0) 7393 766 446
London, United Kingdom
4 May 2023
Odfjell Drilling Ltd