Offshore drilling contractor Odfjell Drilling said Friday that the Norwegian energy firm Equinor had exercised a further well for the Deepsea Stavanger offshore drilling rig.
The well was added to the rig's scope under the continued optionality mechanism provided for in the contract entered into by the parties in May 2021. Following the exercising of this well, which has an estimated duration of 120 days, the Deepsea Stavanger’s firm backlog now extends
into Q4 2023.
Equinor has the opportunity to exercise further wells under the continued optionality mechanism.
"The day rate is similar to the current contract up to 1st May 2023 from which time there is an increase if certain CO2 targets have been achieved. A notable performance incentive rate, in addition, shall apply when wells are delivered safely and ahead of target," Odfjell Drilling said.
Deepsea Stavanger is a sixth-generation deepwater and harsh-environment semi-submersible drilling rig. The rig is designed for operations in harsh environments and at water depths of up to 3,000 m. It has a 7,500 mt loading capacity in all operating conditions.