Odfjell Drilling Secures One-Well Extension for Deepsea Atlantic Rig

Norwegian oil firm Equinor has extended the contract with Odfjell Drilling for the use of the Deepsea Atlantic offshore drilling rig.

Odfjell Drilling said Monday that Equinor had exercised its options to add one additional well to the Deepsea Atlantic contract. 

he well has 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, Odfjell Drilling said.

"The work shall commence after the completion of the current scope estimated to be in Q3 2021. The commercial terms are materially similar to the Deepsea Atlantic’s Johan Sverdrup Phase 2 contract which is expected to commence early Q1 2022," Odfjell Drilling added.

Equinor in March exercised an extension option for the same rig, with work set to begin in Q3 2021, top.

Bassoe Offshore at the time estimated the duration of the one-well contract to be 45 days, at a dayrate of around $280000.

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