Equinor exercises six-well option on Odfjell Drilling semisubmersible

Equinor has exercised an option on Odfjell Drilling’s Deepsea Stavanger semisubmersible, under a contract entered into by both companies in May 2021. Following this addition, the Deepsea Stavanger will drill six new wells, keeping the rig working into Q1 2023.

Odfjell Drilling said in a statement that the day rate is similar to the current contract, and a “notable” performance incentive rate will be applied when wells are delivered safely and ahead of target. Integrated services are provided through the contract and compensated separately.