Statoil gives more work to semi-sub Deepsea Bergen
- Business & Finance
Offshore driller Odfjell Drilling has signed a letter of award (LoA) with Statoil to secure Deepsea Bergen rig for drilling activities in 2018-2019.
According to the driller’s Oslo Stock Exchange filing on Wednesday, the LoA includes one firm well plus 4 x 3 optional wells, which in total can secure work for Deepsea Bergen up to 14 months.
The estimated start up is 2Q/3Q 2018 in direct continuation with the OMV drilling program and contract value is up to $55 million, including the firm well and 3 priced options. In addition, there is one option at market rate.
It has been further agreed to suspend completion of the current Deepsea Bergen Statoil contract and re-arrange the drilling schedule, allowing an earlier beginning of the 1 + 1 well contract with Faroe.
After the completion of the Faroe well, the rig will re-start the Statoil contract and complete the remaining drilling program of one well at the contract dayrate.
Deepsea Bergen is a 3rd generation semi-submersible drilling rig of an Aker H-3.2 design.