A 2018-built semi-submersible rig, owned by Northern Ocean and managed by Odfjell Drilling, has finished its drilling assignment with the UK-headquartered energy giant Shell off the coast of Namibia, Africa.
The Deepsea Mira rig, which began its contract with Shell on April 4, 2026, completed the work with the UK giant on July 2, 2026, and earned its contractual day rate through the completion date.
The extended duration of the contract with Shell has resulted in revenue of approximately $31 million, which will be recognized in the second quarter of 2026, with operating costs continuing to align with expectations.
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Northern Ocean has explained that the European energy player did not exercise its option for a second well. As a result, the rig is now demobilizing to Walvis Bay, where the company will carry out planned upgrades and modifications to prepare the semi-sub for future operations.
The rig owner, which continues to actively market and bid the semi-submersible for relevant opportunities, feels encouraged by current demand for harsh-environment drilling capacity.
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Based on current demand projections, the company believes Deepsea Mira is well positioned to secure further work in the second half of 2026.
The Odfjell Drilling-managed Deepsea Mira rig is a sixth-generation enhanced and extended CS 60 E harsh environment design semi-submersible.
The mobile offshore drilling unit (MODU) was delivered by Hyundai Heavy for work in water depths of up to 3,000 meters.
The rig has a history of working in Namibia, including assignments with TotalEnergies and Rhino Resources .