Lundin extends contract for Ocean Rig semi-sub

Oil company Lundin Norway has declared its third option to extend the existing contract of the Ocean Rig-owned semi-submersible rig, Leiv Eiriksson.

In addition, Ocean Rig has granted Lundin two additional options to drill further wells in the future, the driller said on Monday.

As a result of these developments, the rig now has firm employment until at least the end of September of 2017 and should Lundin exercise its additional seven one-well options, currently un-declared, the rig could be employed until the first quarter of 2019, the rig owner noted.

The total expected revenue backlog, including all the optional wells, is expected to be $85 million.

George Economou, Chairman and CEO of Ocean Rig, commented: “We are grateful for the support of our major customer in Norway and subject to the successful restructuring look forward to extending this relationship in the long-term.”

To remind, the driller at the end of March filed for Chapter 15 bankruptcy protection in a United States court amid a prolonged downturn in the offshore drilling market.

Earlier on Monday, Lundin was granted a drilling permit for another Alta appraisal well to be drilled with the Leiv Eiriksson rig.

The 2001-built semi-sub has been working for Lundin offshore Norway since last year. Before the contract started, the rig prepared for Barents Sea operations at Westcon Yards in Ølen, Norway.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Jan 2019 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Fuel Cell Expo 2019

FC EXPO is world’s largest show for hydrogen & fuel cell…

read more >

LNG Bunkering Summit 2019

LNG Bunkering Summit will cover the obstacles facing both the shipping and port communities…

read more >

Egypt Petroleum Show

This event will feature 500+ regional & international exhibiting companies from over 35 countries…

read more >

IoT in Oil & Gas 2019

The IoT in Oil & Gas 2019 Conference will continue to focus on helping operators…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply