Northern Ocean Secures $70 Million Trinidad Drilling Contract with Shell, Commencing April 2027

en.Wedoany.com Reported - Northern Ocean has finalized a drilling contract worth $70 million with Shell, under which the "Deepsea Mira" semi-submersible drilling rig will resume operations in April 2027. The contract also extends the partnership between the two parties beyond Namibia.

The "Deepsea Mira" had previously been idle for an extended period. Northern Ocean had stated that multiple opportunities originally targeted for the second half of 2026 either fell through or were postponed to 2027, leaving the rig in a prolonged idle state. Shell's new contract secures confirmed work for the rig starting in April and takes the platform into an entirely new operating region.

The contract covers operations in Trinidad and Tobago and the broader Caribbean region, with an estimated duration of 150 days. Shell also holds an option for an additional one-year project in the region; if exercised, the total contract value will increase to $226 million.

Shell's drilling operations offshore Namibia concluded on July 2. The project ran longer than initially expected, generating approximately $31 million in contract revenue; Shell did not exercise its option for a second well, and the rig subsequently returned to Walvis Bay for scheduled upgrades. This award also provides Northern Ocean's sole remaining rig, the "Deepsea Mira," with a firm contract backlog.

As the Caribbean contract materializes, Shell's offshore gas development in Trinidad and Tobago continues to advance. The company recently reached an agreement with the National Gas Company on gas supply terms for the Aphrodite offshore gas field, with first production expected in the second quarter of 2027.