Report: Lundin secures Leiv Eiriksson Rig for more drilling in Norway

Swedish oil company Lundin Petroleum has reportedly signed a new term contract with Ocean Rig for the Leiv Eiriksson semi-submersible drilling rig.

According to data on VesselsValue, the new contract is expected to start on April 15, and will last for two months.

Data from the website shows the rig is currently on contract with Lundin until February 28, on a dayrate of $145.000. No dayrate for the new contract has been revealed.

The rig’s latest work for Lundin was an exploration well on the Hurri prospect in the Barents Sea, spudded in early December 2017. Lundin said earlier this month that the well was dry.

The Leiv Eiriksson is a 5th generation semi-submersible rig of a BINGO 9000 type, built in 2001. According to a presentation released by Ocean Rig in January, the company has granted Lundin two options to drill further wells in the future.

Should Lundin exercise its remaining seven one-well options, the rig could be employed until the middle of 2019. The harsh-environment unit has worked all over the world since its delivery in 2001. It has spent last six years working for various operators on the Norwegian Continental Shelf.

Lundin recently said its pre-tax exploration budget for 2018 would be $115 million with a total of eight planned exploration wells. Four wells are planned to be drilled in the southern Barents Sea.  and four the Norwegian North Sea.

Offshore Energy Today Staff