Norway's Equinor Adds Two-Well Drilling Contract, Extends Deepwater Rig Charter to 2027

en.Wedoany.com Reported - On October 16, Norwegian offshore drilling contractor Odfjell Drilling announced that Equinor Energy AS has formally exercised the option for two additional wells on the Deepsea Atlantic semi-submersible drilling rig, extending the rig's firm contract period to the end of the fourth quarter of 2027. The additional drilling operations will be carried out consecutively following the completion of the existing contract at the rates stipulated in the original agreement, and Equinor retains priced options for two further wells.

This extension follows the contract arrangement reached by the two parties on January 29, 2025. At that time, Equinor had extended the firm operating period for the Deepsea Atlantic to the end of the second quarter of 2027, with the added contract value of approximately USD 148 million, excluding price adjustment fees, integrated service fees, performance bonuses and fuel incentive fees. The contract also retained four priced options, each corresponding to a single well, as well as three further extension option periods of approximately one year each. Two of the priced well options have now been exercised.

The Deepsea Atlantic is a sixth-generation deepwater and harsh-environment semi-submersible drilling rig of enhanced GVA 7500 design, delivered in 2009. The rig is equipped with a dual derrick, a dynamic positioning system and active heave-compensated drilling equipment, with a maximum operating water depth of 3,000 meters, a maximum drilling depth of 10,670 meters and a variable deck load of 7,500 tonnes. Its dynamic positioning system features eight 4,000 kW thrusters, supplemented by eight mooring lines, enabling it to perform offshore exploration and development well drilling operations.

In March 2026, the Deepsea Atlantic carried out drilling of Equinor's 34/4-19 S exploration well near the Snorre field in the Norwegian North Sea, where the Omega South oil and gas resource was discovered. Equinor and Odfjell Drilling have maintained drilling cooperation on the rig since 2009. The field to which the additional well slots belong had not been specified in the October 16 announcement.