Odfjell to Drill More Wells for Equinor

December 22, 2019

Norwegian oil and gas company Equinor has exercised three new wells for Odfjell Drilling’s semisubmersible Deepsea Atlantic.

Furthermore, two additional wells are pending final approval by Equinor and its licensees.

The wells have been exercised under the Continued Optionality mechanism in the Contract entered into between the parties in May 2018, as part of the overall Master Frame Agreement.

The work shall commence after the completion of the current scope estimated to be in Q2 2020.

The approximate contract value for the firm scope is USD 45 million (excluding any integrated services). In addition, a performance bonus will be applicable.

Simen Lieungh, CEO Odfjell Drilling AS, said: “The Continued Optionality mechanism in the contract serves to provide a framework for the parties to continue a long term working relationship, and we believe that the extension is evidence of the importance of Deepsea Atlantic in Equinor’s drilling plans. We will continue to do our utmost to deliver safe and efficient operations to the benefit of both parties.”



Current News

Indonesia Offers 8 Oil and Gas Blocks for Bids

Indonesia Offers 8 Oil and Gas Blocks for Bids

Lottery System to Decide Who Wins Rights to Giant Danish Offshore Wind Farm

Lottery System to Decide Who Wins Rights to Giant Danish Offshore Wind Farm

Lebanon Re-launches Second Offshore Oil and Gas Round

Lebanon Re-launches Second Offshore Oil and Gas Round

Thai Oil Firm PTT Expands Pharma Business with $475M Alvogen Deal

Thai Oil Firm PTT Expands Pharma Business with $475M Alvogen Deal

Subscribe for OE Digital E‑News

Offshore Engineer Magazine