Gulf Oil and Gas accountACCOUNT

Odfjell Signs Drilling Contract for Deepsea Atlantic & Master Frame Agreement with Equinor

Source: www.gulfoilandgas.com 5/25/2018, Location: Europe

Reference is made to previous announcement of a Letter of Intent on 16 April 2018. Odfjell Drilling has signed the drilling contract for Deepsea Atlantic for 6 firm wells with an estimated total duration of 18 months, scheduled to commence in early first quarter 2019. The contract contains the option to continue operations for Equinor after the firm period, and such options shall be based on market pricing. The contract value is estimated to USD 160 million (including some third party services, e.g. casing running services by Odfjell Well Services) plus potential income from the contract incentive model.

In addition, and as part of a long term co-operation with Equinor, Odfjell Drilling also signed a Master Frame Agreement for all the drilling units in the fleet, which will be the foundation for any future rig requirements which may be agreed between the parties.

Simen Lieungh, CEO Odfjell Drilling: “A long term co-operation with Equinor is a key cornerstone in Odfjell Drilling’s long term strategy for growth on the NCS. The Master Frame Agreement formalizes this co-operation and allows the parties to work closer in developing new technologies and new ways of working to achieve even more efficient operations. The drilling contract for Deepsea Atlantic is hopefully the first of many opportunities to be realized under the Master Frame Agreement. Odfjell Drilling looks forward to being a key contributor to Equinor’s ambitious targets for drilling on NCS.”

Rigs >>

Rigs News in Norway >>

Nigeria >>  12/10/2018 - San Leon Energy plc, the AIM listed company focused on oil and gas development and appraisal in Africa, announced on 25 September 2018 that Eroton, th...
Cameroon >>  12/7/2018 - Tower Resources plc, the AIM listed oil and gas company with its focus on Africa, is pleased to announce that its wholly owned subsidiary, Tower Resou...

Saudi Arabia >>  12/3/2018 - ADES International Holding Ltd., a leading oil & gas drilling and production services provider in the Middle East and North Africa (MENA), has complet...
Indonesia >>  11/26/2018 - Japan Drilling Co., Ltd. (JDC) is pleased to announce that its subsidiary company "P.T. Japan Drilling Indonesia" together with a shipping company in ...

Norway >>  11/23/2018 - Equinor has exercised two options of two months each for jack-up rig Maersk Intrepid. As a result, the rig is now contracted to Equinor until the end ...
Nigeria >>  11/20/2018 - Shelf Drilling, Ltd. has secured a one-year extension on the Trident XIV jack-up rig in direct continuation of its current contract for workover opera...

Related Categories: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 

Related Articles: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 


Norway Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.