Aker BP extends Deepsea Nordkapp rig contract

Norwegian oil company Aker BP has exercised the first one-year option for Odfjell Drilling’s Deepsea Nordkapp semi-submersible drilling rig.

Deepsea Nordkapp rig; Photo: Odfjell Drilling

The two companies originally entered the drilling contract in April 2018.

The first one-year option will begin after the expiry of the two-year firm period in May 2021.

The approximate contract value for the firm scope is $128 million (excluding any integrated services).

In addition, a performance bonus will be applicable, Odfjell Drilling said.

Simen Lieungh, CEO Odfjell Drilling, said: “We are very pleased to see Aker BP’s continued commitment to the Alliance Agreement between the parties and Odfjell Drilling is equally committed to delivering our very best performance on Deepsea Nordkapp.”

Bassoe Offshore has estimated the dayrate for the extension to be $350,000 up from the current dayrate, estimated to be around $325,000.

Worth noting, the Norwegian Petroleum Directorate on Wednesday said it had given Aker BP a permit for a wildcat well in the Norwegian Sea using the Deepsea Nordkapp rig.

The well 6506/5-1 S, a prospect named Nidhogg, is located in production license 1008, where Aker BP has a 60 percent interest, while its partner Wellesley Petroleum holds the remaining 40 percent interest.