Odfjell Drilling, a 52-year-old offshore drilling player, has landed a new assignment for one of its semi-submersible rigs, which will enable the unit to be booked until the second quarter of 2029.
While disclosing the signing of a letter of intent (LOI) with an undisclosed client for the use of the Deepsea Aberdeen rig, Odfjell Drilling explains that the work included in the LOI will begin in late 2026, in direct continuation of the unit’s current contract.
This deal, which will increase the Deepsea Aberdeen rig’s firm backlog until Q2 2029, is contingent on customary subjects. The 2014-built Deepsea Aberdeen is a harsh environment semi-submersible, dual derrick rig of enhanced GVA 7500 design, capable of working at water depths of up to 3,000 meters.
The rig has eight mooring lines and can accommodate 157 people. With a 7,500 mt loading capacity in all operating conditions, the rig’s drilling depth capacity is 10,670 meters. Following a letter of intent from October 2020, Norway’s Equinor and Odfjell Drilling struck a rig deal in November 2020, which was last extended in May 2024.
This enabled the rig to secure firm backlog to the third quarter of 2026. The Norwegian state-owned energy giant’s deal came with further optional periods up to 2029.
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Kjetil Gjersdal , Chief Executive Officer of Odfjell Drilling, commented: “At Odfjell Drilling, one of our main priorities is to maintain strong, continuous backlog coverage on our units. This eliminates cash flow risk and allows us to invest in our rigs, invest in our people and invest in our relationships with our clients whilst maintaining significant cash flow visibility. “We are delighted to have agreed this LOI for use of the Deepsea Aberdeen. The Deepsea Aberdeen is rightly known as one of the best harsh environment units in the world and with this backlog, we look forward to continuing to build upon this legacy.”