Oslo-listed offshore drilling rig owner Northern Ocean has secured a contract with a subsidiary of a major oil and gas operator for its Deepsea Bollsta semi-submersible drilling rig, which will be put to work offshore Namibia.
The one well contract duration is estimated at 63 days and will likely start in the fourth quarter of 2024, according to Northern Ocean.
After successfully transiting from Norway to Namibia, the Deepsea Bollsta has been operating within the Orange Basin in Namibia for 18 months, most recently for Shell, and continues to demonstrate the efficiencies of utilizing a sixth generation semi-submersible in the region.
Northern Ocean’s two high- specification rigs in West Africa are being managed by Odfjell Drilling.
Before the start of the new contract, the Deepsea Bollsta will undertake a five-year class survey and there will also likely be a short idle period prior to commencement, Northern Ocean noted.
Built in 2019 by Hyundai Heavy Industries, Deepsea Bollsta semi-submersible rig incorporates Moss Maritime CS-60Mk design.
The rig is capable of operating at waters depths of 10,000 feet (3000 meters), and can accommodate 140 people.
With the new contract award for Deepsea Bollsta and the current drilling contract for the Deepsea Mira, the company has an estimated aggregate revenue backlog between $80 million and $95 million, excluding bonuses, reimbursables and undeclared options.
Northern Ocean added it will continue discussions and processes with potential clients on securing additional backlog for both rigs.
