One-year encore for Odfjell Drilling’s rig with Norwegian oil & gas operator

November 19, 2025, by Melisa Cavcic

Odfjell Drilling, a 52-year-old offshore drilling player, has secured a contract extension with Norway’s oil and gas player Aker BP for a 2019-built semi-submersible rig, which is on a drilling assignment on the Norwegian Continental Shelf (NCS).

Deepsea Nordkapp rig; Source: Odfjell Drilling

While revealing a signed confirmation from Aker BP about extending the firm contract period for use of the Deepsea Nordkapp rig by a year, Odfjell Drilling explains that this extends the semi-submersible’s firm contract backlog to the end of 2027, after which the Norwegian operator retains further options.

According to the rig owner, the operating rate applicable to the extension will be set by the end of 2025, using a rate reflective of market rates and defined by two independent rig brokers. The rig’s assignment, initially slated to be completed at the end of 2024, was previously prolonged to run for two more years.

The 2019-built Deepsea Nordkapp, formerly Stena Midmax, is a sixth-generation dynamically positioned harsh environment and winterized semi-submersible of a Moss-enhanced CS 60E design.

Commenting on the extension, Kjetil Gjersdal, Chief Executive Officer of Odfjell Drilling, highlighted: “We are delighted to have agreed this extension for use of the Deepsea Nordkapp.

“Deepsea Nordkapp has been on contract with Aker BP as part of the Semi Alliance since the rig was delivered to us in 2019 and has worked on many projects during this period. With this contract extension secured, we look forward to continuing our close cooperation with Aker BP.”

Odfjell Drilling was among the three offshore drilling contractors that landed drilling and wells alliance deals with Aker BP in January 2023 to undertake drilling activities on the Norwegian Continental Shelf.

This contract extension comes shortly after the offshore drilling player took steps to acquire a semi-submersible rig from Northern Ocean and signed a letter of intent (LOI) for another rig in its semi-submersible fleet.