Equinor lets North Sea drilling contracts for Deepsea Atlantic
Equinor Energy AS has let contracts to Odfjell Drilling Ltd. for the Deepsea Atlantic semisubmersible drilling rig to conduct operations in the North Sea.
The contracts have a combined firm duration of 23 months and a value of about $290 million excluding integrated services, upgrades and modifications, or mobilization fees. The contracts also include provisions for performance bonuses and fuel incentives.
In addition to the firm contract periods, there are four priced one-well options and three further optional periods of about 1 year each, with rates for each period to be mutually agreed prior to exercising.
The work will begin immediately following completion of the special periodic survey for the Deepsea Atlantic, which is currently planned for first-half 2024. Deepsea Atlantic is now signed up to firm contracts until mid-2026, with options which extend to 2029.
Alex Procyk | Upstream Editor
Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).
