Statoil has signed a letter of intent with Odfjell Drilling for hire of the Deepsea Bergen rig to be used on our licences in the Norwegian Sea. The contract value is around USD 380 million.

As operator of several licences Statoil has awarded a contract to Odfjell Drilling for use of the Deepsea Bergen rig for production drilling on the Halten Bank.

“We are satisfied with the signing of this agreement,” says Ivar Aasheim, senior vice president for the operations north cluster of the Exploration & Production Norway area. “It secures our future capacity in the rig market, thus enabling us to maintain our production targets in the longer term.”

The contract period is three years and includes a one-year option following the completion of the drilling programme. The contract states a daily rate of around USD 346.000, based on the current exchange rate. Statoil has an option to further extend the contract period at a reduced rate. The agreement is subject to partner approval.

“In our view, the agreement reflects a sustainable price level for this type of rigs,” says Gunn Vik Grønhaug, who is responsible for procuring drilling and well services in Statoil. “This agreement also confirms the good cooperation between Odfjell Drilling and Statoil.”

Deepsea Bergen is a semi-submersible drilling rig, which is currently under a three-year contract with Statoil in the same area.

Tags: Statoil