Odfjell Drilling is happy to announce that Statoil has awarded a conditional Letter of Intent (LOI) for a drilling contract for Deepsea Atlantic for six agency wells with an estimated whole period of 18 months, scheduled to begin in early first quarter 2019.
The contract comprises the choice to proceed operations for Statoil after the agency interval, and such choices shall be based mostly on market pricing.
Simen Lieungh, CEO Odfjell Drilling:
“The contract is one other essential milestone for Odfjell Drilling in sustaining a detailed relationship with one in every of our key shoppers on NCS. We have loved nice operational success in our partnership with Statoil on Johan Sverdrup and we’re setting our sights even greater to enhance on earlier efficiency going ahead by implementing new digital options to extend effectivity in operations”
The contract worth is estimated to USD 160 million (together with some third get together companies, e.g. casing operating companies by Odfjell Well Services) plus potential revenue from the contract incentive mannequin. The conditional Letter of Intent is topic to license approval.
Deepsea Atlantic is a Gotavarken GVA 7500 UDW harsh atmosphere semi-submersible. Built by Daewoo at Okpo shipyard in South Korea, the rig was delivered in 2009. (Source and picture: Odfjell Drilling)
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