Oil and gas company Neptune Energy has extended the contract for the Deepsea Yantai semi-submersible offshore drilling rig.
The rig, owned by China's CIMC and managed by the Norwegian drilling contractor Odfjell Drilling, was recently used to make what is believed to be Norway's largest oil discovery so far this year - the Dugong.
The news of the drilling rig contract extension was shared Monday by Odfjell Drilling which said Neptune Energy had extended the rig's contract for with an additional 3 wells taking the rig to late 2021.
The rig will carry out the second drilling phase of Neptune Energy’s Fenja field development project.
In addition, Odfjell Drilling said, the parties have agreed to increase the number of optional wells from the remaining five up to ten optional wells.
“The extension of the Deepsea Yantai is an acknowledgment of the excellent work performed by our team in the mobilization, start-up, and operation of the Deepsea Yantai, says CEO Simen Lieungh of Odfjell Drilling.