Odfjell Drilling picks up LoA for South Africa work

Odfjell Drilling has signed a conditional letter of award (LoA) with an unnamed “oil major” for a one-well contract to be drilled by the 6th generation semi-sub, Deepsea Stavanger, offshore South Africa.

The driller said on Wednesday that the contract start is back to back with completion of the upcoming contract with Wintershall Norge on the Maria field, offshore Norway.

The contract value including compensation for mobilization/demobilization period is estimated up to $55 million. The company expects the drilling of the well to take 60-80 days.

Odfjell Drilling, CEO Simen Lieungh, said: “We are very pleased to receive this sign of commitment and confidence. The companies have collaborated closely on this challenging project for many months and believe together we have a technical and operational solution to meet the unique combination of harsh environment conditions encountered on site.”

Lieungh continued: “This project with its technical complexities, deepwater and harsh environment is considered an ideal match for Odfjell Drilling as we strengthen our position as contractor of choice for challenging harsh environments.”

The rig’s contract with Wintershall is expected to start in April. The firm contract, awarded back in September 2015, is for six wells with an expected duration of 574 days and an estimated contract value of $175 million.

The contract additionally contains a one-well option prior to the firm contract and two wells after the firm period. The estimated contract value of the optional wells is $98 million.

According to the latest AIS data, the semi-sub is currently moored in Ågotnes, near Bergen, Norway.

Offshore Energy Today Staff

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