TotalEnergies has exercised the first option under the contract for DeepSea Mira semi-submersible drilling rig, extending its contract for 180 additional days for work in West Africa.
The owner of the offshore drilling rig Northern Ocean said the firm term of the contract has been extended 180 days into the fourth quarter of 2024.
The extension provides between $68 million and $75 million of additional revenue backlog, excluding bonuses, reimbursables, or other undeclared options.
DeepSea Mira, managed by Norwegian drilling firm Odfjell Drilling, started working with TotalEnergies in Namibia in June 2023, under a 300-day drilling contract.
The contract has two extension options, which enable TotalEnergies to keep the 2019-built rig busy through all of 2024 – the first of which has now been exercised.
In 2022, Namibia and Southern Africa came in the exploration spotlight with the French oil major’s giant oil discovery with its Venus-1x well and Shell’s Graff well.