Equinor exercises Odfjell Drilling extensions on Breidablikk field

Odfjell Drilling announced Equinor has exercised options for seven wells to extend the use of the Deepsea Aberdeen on the Breidablikk field in the North Sea.

The exercised options are planned to start in mid-Q1 2025 in direct continuation of the current firm period, extending the firm backlog on the Deepsea Aberdeen to the end of Q4 2025. The options have a value of approximately $138 million, excluding integrated services, performance and fuel incentives.

Additionally, the contract now includes further optional periods which, if exercised, could keep the Deepsea Aberdeen contracted to 2029. These consist of six optional wells followed by three further optional periods of eight wells each. The rates for all such periods are to be mutually agreed upon prior to exercising.

“We are pleased to confirm this extension which will see the Deepsea Aberdeen continue its work with Equinor on the Breidablikk field,” said Kjetil Gjersdal, CEO of Odfjell Drilling. “We look forward to building on the successful collaboration with Equinor which has seen the Deepsea Aberdeen drill the initial Breidablikk wells ahead of schedule, paving the way for early production on the field.”