Statoil lets conditional LOI for drilling contract

Statoil AS has let a conditional letter of intent (LOI) for a $160-million contract to Odfjell Drilling for the Deepsea Atlantic semisubmersible to drill six wells over 18 months starting in early 2019, the drilling contractor said.

The LOI calls for casing-running services by Odfjell Well Services. The contract is conditional upon license approval for Statoil. No details were released on the license where the semi would drill.

Odfjell Drilling of Aberdeen previously worked with Statoil on Johan Sverdrup project on the Norwegian Continental Shelf.