Equinor has exercised an extension on its contract with the Deepsea Stavanger drilling rig.
The rig currently plans to drill in Equinor-operated production license (PL) 943 in the Norwegian Sea (OGJ Online, June 27, 2022).
Following this additional scope of work, the rig now has eight remaining wells to be drilled which are expected to occupy the rig into third-quarter 2023.
The extension was executed under the continued optionality mechanism in the contract, entered by the parties in May 2021. Equinor can exercise further wells under the continued optionality mechanism.
About the Author
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).