Neptune Energy Extends Charter for Deepsea Yantai Offshore Drilling Rig

November 22, 2021

Credit: Neptune Energy
Credit: Neptune Energy

Oil and gas company Neptune Energy has extended a contract for the Deepsea Yantai semi-submersible drilling rig, to include three additional wells in the Norwegian sector of the North Sea in 2022.

The Deepsea Yantai, owned by China's CIMC Raffles and managed by Odfjell Drilling, is currently drilling the production wells at the Neptune-operated Fenja field in the Norwegian Sea. 

The extension will include one additional well at the Fenja field and two exploration wells within core areas of the Norwegian sector. Neptune also has the option to include additional wells under the current contract. No financial details were disclosed.

Neptune Energy’s Managing Director for Norway, Odin Estensen, said: “The extension of the contract for the Deepsea Yantai plays a vital role in our busy drilling program for next year, including both development and exploration drilling in our core areas with a clear ambition to further grow our business on the Norwegian Shelf.”

Neptune Energy and Odfjell Drilling have also entered into a long-term frame agreement for potential future rig needs. 

The frame agreement was signed during a rig visit to Deepsea Yantai by Neptune Energy Norge Managing Director Odin Estensen and Odfjell Drilling AS CEO Simen Lieungh.

"This is an important contract for us which ensures our position as the preferred supplier to Neptune Energy and further allows us to closely cooperate with regards to efficiency, solutions and projects. Deepsea Yantai has become a very solid rig in our portfolio and we aim to deliver in line with, and hopefully exceed, Neptune’s expectations going forward,” says CEO of Odfjell Drilling AS, Simen Lieungh.

The Deepsea Yantai has been operating for Neptune Energy in Norway since November 2019. This included completion of the appraisal and production wells at the two new Gjøa P1 and Duva fields, and several exploration wells including the Dugong discovery last year.



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