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Equinor to Drill Additional Well with the Deepsea Atlantic

Source: www.gulfoilandgas.com 1/18/2021, Location: Europe

Reference is made to the press release of 18 December 2020 whereby Equinor exercised 2 new wells under the Master Frame Agreement. Odfjell Drilling has advised that Equinor has now exercised one additional well for Deepsea Atlantic. The well has been exercised under the Continued Optionality mechanism in the contract entered into between the parties in May 2018, as part of the overall Master Frame Agreement. The work shall commence after the completion of the current scope estimated to be in Q2 2021. The commercial terms are materially the same as for the recently announced Johan Sverdrup Phase 2 contract award.

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