Statoil Signs Drilling Rig Contract with Odfjell

28 February 2011 (Last Updated February 28th, 2011 18:30)

Statoil and Odfjell Drilling have signed a contract for Deepsea Bergen that will be valid from June 2012. In October 2010, the two firms signed a letter of intent to use the Deepsea Bergen rig for development drilling on the Norwegian Continental Shelf (NCS). Statoil will decide

Statoil and Odfjell Drilling have signed a contract for Deepsea Bergen that will be valid from June 2012.

In October 2010, the two firms signed a letter of intent to use the Deepsea Bergen rig for development drilling on the Norwegian Continental Shelf (NCS).

Statoil will decide the duration of the deployment of the rig – three to five years, with a one-year option.

Based on the duration, the value of the contract is estimated to vary between $382m to $619m.

Currently, the rig is deployed on a three-year contract with Statoil for development and exploration drilling in the Halten Nordland area, off Norway.