Aker BP exercises one-year option for Odfjell Drilling semisubmersible

Aker BP has exercised the second 12-month option for Odfjell Drilling’s Deepsea Nordkapp semisubmersible under a contract the two companies signed in April 2018. Odfjell said in a statement that this option will begin in June 2022, following the expiration of the first option.

The approximate contract value for the exercised optional scope is $109 million. A performance bonus will be applicable, as well.

An additional scope-based option period has been agreed which, if exercised, will follow completion of the firm period and have a duration of up to 12 months.

“We are very pleased to see Aker BP’s continued commitment to the Alliance Agreement between the parties,” said Simen Lieungh, CEO of Odfjell Drilling. “The Alliance has delivered exceptional performance on Deepsea Nordkapp and we see this extension as a recognition of those good results. With the addition of a further option period we look forward to continuing the Alliance into the future.”