Lundin eyes Odfjell rig for one firm well

Oil and gas company Lundin Energy and rig owner Odfjell Drilling have signed a letter of intent for the use of Deepsea Stavanger rig in Norway.

Odfjell Drilling said on Monday that the letter of intent is subject to finalization of contract and final approvals from involved parties.

The contract is set to begin in 3Q 2021 with a duration of one firm well plus eight optional wells.

The firm contract scope has an estimated contract value of approximately $11-14 million plus incentives.

The contract is set to start in 3Q 2021, back-to-back with Deepsea Stavanger’s upcoming five-well contract with Aker BP.

The contract with Aker BP is back-to-back with Deepsea Stavanger’s return from South Africa where it drilled the Luiperd-1X well for Total.

Odfjell Drilling CEO, Simen Lieungh, said: “We are very pleased to continue to add backlog to our fleet and this letter of intent from Lundin Energy Norway again confirms our strong position in the harsh environment market.

“We are confident that Deepsea Stavanger will meet the high expectations set by Lundin Energy Norway and its partners”.