Offshore drilling contractor Northern Ocean has landed a contract extension for one of its semi-submersible rigs for activities in West Africa with the French oil major, TotalEnergies.
TotalEnergies hired the Deepsea Mira rig on a multi-country drilling contract in December 2022. With an estimated firm duration of 300 days, plus one 180-day option and a 90-day option, the rig’s contract was originally slated to start in the middle of 2Q 2023.
As the rig experienced some delays in loading equipment and performing required maintenance during the transit, it did not begin the contract until June 2023. During 3Q 2023, the Deepsea Mira rig was drilling offshore Namibia to appraise the Venus discovery.
According to Northern Ocean, TotalEnergies has now exercised the first option under the Deepsea Mira contract for work in West Africa. The firm term of this contract, which has been extended 180 days into 4Q 2024, provides between $68 million and $75 million of additional revenue backlog, excluding bonuses, reimbursables, or other undeclared options.
The Deepsea Mira is an enhanced and extended CS 60 E harsh environment design semi-submersible delivered by Hyundai Heavy in South Korea. The rig is managed by Odfjell Drilling following an agreement with Northern in December 2021.
As the management of the rig was transferred from Seadrill to Odfjell, the rig also got a new name to reflect the change .