Odfjell Drilling's offshore rig secures more work with Equinor

Equinor has exercised further work for Odfjell Drilling's Deepsea Stavanger semisubmersible under the continued optionality mechanism provided for in the contract entered into in May 2021.
July 20, 2022
Courtesy Odfjell Drilling
Deepsea Stavanger is a sixth-generation deepwater and harsh environment semisubmersible.
Deepsea Stavanger is a sixth-generation deepwater and harsh environment semisubmersible.

Offshore staff

ABERDEEN, UK — Equinor has exercised further work for Odfjell Drilling's Deepsea Stavanger semisubmersible under the continued optionality mechanism provided for in the contract entered into by the parties in May 2021.

Following this addition, the Deepsea Stavanger now has eight remaining wells to be drilled, which are expected to occupy the rig into third-quarter 2023.Equinor has the opportunity to exercise further wells under the continued optionality mechanism.

The day rate is similar to the current contract up to May 1, 2023, from which time there is an increase if certain CO2 targets have been achieved. A notable performance incentive rate in addition shall apply when wells are delivered safely and ahead of target. Integrated services are provided through the contract and compensated separately.

07.20.2022

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