New Drilling Contract to Deepsea Atlantic
Monday 28 May 2018
Equinor has awarded Odfjell a contract for drilling two times three production wells for the Fram and Askeladd licences by using the Deepsea Atlantic rig. Odfjell has also been awarded a master framework agreement (MFA).
Equinor has signed a framework agreement with Odfjell with terms that will be used for future rig contracts with Odfjell on the Norwegian continental shelf. At the same time, the first rig contract has been signed for Deepsea Atlantic under this contract format.
The established work programme is scheduled to start in January 2019. Deepsea Atlantic is a semi-submersible 6th generation mobile drilling rig.
The value of the well-based contract is estimated at USD 150-200 million for six wells. In addition to drilling services, the rig owner is responsible for casing running, slop treatment and cuttings handling, remote control vehicle (ROV) and fuel.
Currently on contract with Equinor and its licence partners, Deepsea Atlantic will complete a drilling programme for the Visund and Utgard licences before it undergoes 10-year-classification.
First, the rig will drill three so-called dual multilateral wells on the Fram field. Each of these wells will have two branches radiating from the main wellbore. Then the rig will proceed to Askeladd to drill three production wells.
The operations will be supported by logistics bases at Mongstad and Hammerfest respectively.
The contract with Deepsea Atlantic is a confirmation of the letter of intent announced by Odfjell Drilling on 16th April, 2018.