Odfjell Drilling has agreed to acquire the harsh-environment Deepsea Bollsta semisubmersible drilling rig from Northern Ocean for $480 million.
Since early 2022, Odfjell Drilling has been managing the rig, which is currently contracted to Equinor until first-quarter 2028, with extension options.
Odfjell said it had received binding commitments from banks to cover the cost of the acquisition, but it will also investigate other credit financing sources to improve its long-term capital structure.
CEO Kjetil Gjersdal said, “Having managed and operated the Deepsea Bollsta for over three years, we have seen first-hand the potential of this rig and her crew. Having drilled successfully in both Namibia and Norway in recent years, Deepsea Bollsta has impressed us and its clients through good, predictable operations and efficiency.”
The company has also signed a letter of intent with an unnamed client for use of the semisub Deepsea Aberdeen, in direct continuation of its current contract, extending the rig’s firm work backlog through spring 2029.
