Norwegian oil and gas player Aker BP has decided to exercise its option for additional wells to be drilled by one of the Odfjell Drilling-owned semi-submersible rigs.
Odfjell Drilling disclosed on Thursday that Aker BP had assigned two additional firm wells to the Deepsea Nordkapp rig with an estimated duration of approximately six months. The offshore rig owner explains that the extension for these newly exercised wells will start in direct continuation of the current firm contract period and keep the unit occupied into the third quarter of 2024.
The offshore drilling contractor also reveals that the approximate contract value for the exercised wells is $60 million , excluding any integrated services. In addition, the company underlines that a performance bonus will be applicable.
The original contract for this rig – under the terms of the drilling agreement that Odfjell Drilling and Aker BP entered into in April 2018 – was for a period of two years and contained two annual extension options. The first of these extension options was exercised in December 2019 while the second one was exercised in March 2021 . The Norwegian player also exercised a scope-based option for the rig in February 2022 , expected to occupy the unit into 1Q 2024.
The 2019-built Deepsea Nordkapp – former Stena Midmax – semi-submersible drilling rig, which Odfjell Drilling bought from Samsung Heavy in April 2018, is a sixth-generation dynamically positioned harsh environment and winterized semi-submersible of a Moss enhanced CS 60E design.