Odfjell Drilling firms up 11-year-old rig’s multi-year gig in Norwegian waters

December 19, 2025, by Melisa Cavcic

Odfjell Drilling, a 52-year-old offshore drilling player, has turned a letter of intent (LoI) into a new contract for its 2014-built semi-submersible rig, which will now be booked for work until the first quarter of 2029.

Deepsea Aberdeen rig; Source: Odfjell Drilling

Following the letter of intent for the use of the Deepsea Aberdeen rig in November 2025, Odfjell Drilling has signed a contract with Equinor to deploy the unit to drill an unspecified scope in an interim period on the Norwegian Continental Shelf (NCS), before moving to the Fram Sør project off the coast of Norway.

The work will begin in Q4 2026, in direct continuation of the rig’s current contract with Equinor and is estimated to continue to Q1 2029, adding approximately $373 million of firm order backlog, excluding integrated services, performance bonuses and fuel incentives as well as yearly escalation increases.

The 2014-built Deepsea Aberdeen harsh environment semi-submersible, dual derrick rig of enhanced GVA 7500 design, is capable of working at water depths of up to 3,000 meters. With a 7,500 mt loading capacity in all operating conditions, the rig’s drilling depth capacity is 10,670 meters.

Kjetil Gjersdal, Chief Executive Officer of Odfjell Drilling, commented: “We are very pleased to have secured another contract with Equinor, with whom we now have three rigs working. In addition, we are excited to be involved with the drilling of Fram Sør, a leading development project in Norway.”

A plan for development and operation (PDO) was submitted in June 2025 for the Fram Sør combined development of several discoveries that will export oil and gas via the Troll C platform. This project will enable more oil and gas to be sent to Europe from the Fram and Troll area.

The Fram partners are Equinor Energy (45%), Vår Energi (40%), and Inpex Idemitsu Norge (15%). Based on the current plan, 12 wells are planned for start-up with four well slots available for later development in the Fram/Troll area.

This contract comes after Odfjell Drilling completed the Deepsea Bollsta acquisition. The rig will be renamed Deepsea Bergen, with the name change officially set to take place in 2026.