Odfjell Drilling eyes rig deal with MOL

Offshore driller Odfjell Drilling has signed a letter of intent for Deepsea Bergen rig with MOL Norge for one exploration well in direct continuation of the contract with OMV Norge.

The contract is estimated to expire in 3Q/4Q 2019, the driller said in an Oslo Stock Exchange filing on Tuesday.

The estimated duration is approximately 50 days plus possible well testing. The addition of the well with MOL Norge will keep Deepsea Bergen continuously employed during 2019, Odfjell said.

The contract value is estimated to be $9 million plus potential incentive bonus.

Deepsea Bergen is currently working for Equinor, which is now expected to be completed around January 2019, after which it will continue with contracts with one well for Ithaca Energy in the UK and one HPHT well for OMV Norge.