Oslo Stock Exchange-listed offshore drilling contractor Northern Ocean has signed a letter of intent (LOI) with a Texas-based provider of wellhead and pressure control equipment, Kinetic Pressure Control, to install the latter’s technology on its two rigs.
Under the agreement, Northern Ocean’s two sixth-generation semi-submersibles, the Deepsea Mira and the Deepsea Bollsta – both managed by Odfjell Drilling – are set to feature Kinetic Pressure Control’s kinetic blowout stopper (K-BOS).
Since the U.S. firm says its technology stops blowouts, instead of preventing them, it is described as “the airbag for the oil & gas industry.” As explained, the retrofittable, large bore electrically initiated, gate valve performs the function of shearing and sealing during drilling, completions, and intervention well control operations. It is designed to shear anything above the bit and seal instantly, regardless of the flow.
Arne Jacobsen , Northern Ocean’s Chief Executive Officer (CEO), commented: “The option to offer the K-BOS system to our clients will increase the capability and attractiveness of our drilling units to our discerning clients operating in ultra-deepwater and harsh environments. We look forward to working with Kinetic’s excellent team to integrate the K-BOS equipment with the existing well control equipment on both our units.”
The Oslo Stock Exchange-listed firm believes the K-BOS system’s ability to secure the well in less than a second will benefit its clients, enhancing its position in the market and ability to secure new contracts in the ultra-deepwater and harsh environment segments.
“Northern Ocean’s commitment to develop K-BOS solutions for the Deepsea Mira and Deepsea Bollsta highlights the value that this technology brings to our clients. We believe the operators of these units will benefit from K-BOS’s ability to secure the well in all circumstances,” said Kinetic’s CEO, Steven Angstmann .
“ K-BOS allows these class leading rigs to set a new standard for lowering the risk of a major spill to as low as reasonably practicable. We look forward to working with the great team at NOL on these projects.”
Earlier this month, Northern Ocean secured a new short-term gig off the coast of Ghana for the Deepsea Bollsta. The rig is set to undertake a five-year class survey after the Ghana job, followed by another assignment offshore Namibia .
The other semi-sub, the Deepsea Mira, has been working with TotalEnergies under a multi-country drilling contract since December 2022 . The French giant exercised the first option under the contract in late 2023 , followed by an extension slated to start in October 2024 for one well, with an additional well option.