Odfjell Drilling Rig Trifecta: Equinor Hires 'Deepsea Stavanger' for 2022 Drilling

Norwegian oil firm Equinor has awarded offshore drilling company Odfjell Drilling a contract for Deepsea Stavanger semi-submersible drilling rig, adding to the previously awarded deals for two other Odfjell Drilling rigs.

The contract for the Deepsea Stavanger drilling unit is expected to start in February 2022. The contract includes continuing options after the initial phase.

The contract value for the sixth generation rig is estimated at around USD 40 million for the firm part. Drilling services and other additional services, such as running casing, treatment of wastewater, handling of cuttings, remotely operated vehicle (ROV), and fuel, are included in the contract.

Erik G. Kirkemo, Equinor's senior vice president of drilling & well operations" [The Deepsea Stavanger ] is a sister rig to the other two Odfjell rigs; Deepsea Atlantic, which has drilled for us for many years, and Deepsea Aberdeen, which will drill on the Breidablikk field. We expect to gain experience across the three rigs, helping us reach our goals of ever safer and more efficient operations."

Equinor will use the offshore rig to drill three exploration wells in the North Sea, which is expected to take four months.  

The dayrate will be similar to that agreed for sister rig Deepsea Aberdeen under the Breidablikk contract. According to Odfjell Drilling, The Deepsea Stavanger’s contract includes a notable performance incentive rate which will apply when wells are delivered safely and ahead of target.

“Having had excellent cooperation with Odfjell over time, we are now further strengthening this cooperation by adding one more rig. Even though we are bringing in this rig on a short-term commitment, our objective is to achieve a more long-term program, also for this Odfjell rig,” said Mette Ottøy, Equinor's chief procurement officer.

Simen Lieungh, CEO Odfjell Drilling AS, says: “We are pleased to add Deepsea Stavanger to the Equinor fleet and see significant benefits in having three units operating with one of our core clients in the North Sea.  Equinor and Odfjell Drilling have a shared target to build a mutually beneficial long-term cooperation that focuses on safety, carbon reduction, and cost-efficiency. Working under the Master Frame Agreement structure we foresee further wells being allocated to our units in the years to come.”