Equinor exercises option on Odfjell Drilling semisubmersible

Equinor has exercised an option on Odfjell Drilling’s Deepsea Stavanger semisubmersible under a contract that originally started in May 2021. Following this addition, the Deepsea Stavanger now has eight remaining wells to be drilled, which are expected to occupy the rig into Q3 2023.

Odfjell Drilling said in a statement that the dayrate is similar to the current contract up to 1 May 2023, from which time there is an increase if certain CO₂ targets are achieved. In addition, a notable performance incentive rate shall apply when wells are delivered safely and ahead of target. Integrated services are provided through the contract and compensated separately.