The drilling contractor will be the exclusive provider of semisubmersible rigs for OKEA’s operations offshore Norway, with flexibility in terms of which of the identical/energy-efficient rigs are deployed.
Four one-year extension options could increase the total contract length to eight years.
Erik Haugane, CEO of OKEA, said his company expects to take various drilling decisions in the next few months.
“This frame agreement secures the options we and our license partners need for efficient and cost-effective rigs for both development and exploration drilling in the coming years.”
It also “provides the flexibility and predictability we need at attractive rig rates.”
The first well commitment will likely be connected to a final investment decision of a tieback of the Hasselmus gas field to the Draugen facilities in the Norwegian Sea.