Odfjell Drilling Signs Three-Year Drilling Contract for Deepsea Bergen

en.Wedoany.com Reported - On November 10, Norwegian offshore drilling contractor Odfjell Drilling and Norwegian oil and gas company Vår Energi formally signed a contract for the use of the Deepsea Bergen semi-submersible drilling rig, with a fixed operating period of three years, scheduled to commence in early 2028. Upon completion of the contract period, Vår Energi holds four one-year priced extension options; if all are exercised, the rig's operating period could extend to early 2035. This signing extends Deepsea Bergen's firm contract backlog to early 2031.

This formal contract follows the letter of award announced by both parties on September 10, 2026. Under the previously disclosed arrangement, the three-year fixed operating period will commence after the conclusion of Deepsea Bergen's existing contract. The letter of award announced in September disclosed an estimated value of USD 518 million for the fixed contract scope, including mobilization costs but excluding annual price adjustments, integrated service fees, performance bonuses, and fuel incentive fees.

Deepsea Bergen was completed in 2019, built by Hyundai Heavy Industries of South Korea, and features an enhanced extended CS 60 E harsh-environment design. It is a sixth-generation semi-submersible offshore drilling rig flying the Norwegian flag. The rig has a maximum applicable water depth of 3,000 meters, a maximum drilling depth of 12,000 meters, a displacement of approximately 71,000 tonnes in operating condition, a variable deck load of 7,000 tonnes, and accommodation for 180 persons.

The rig is equipped with eight Rolls-Royce thrusters, each rated at 4,800 kW, and features an eight-point mooring system, active heave compensation equipment, and a high-specification drilling system, enabling it to perform oil and gas exploration and development drilling operations in deepwater and harsh sea conditions. The rig also adopts selective catalytic reduction environmentally friendly power units and supports a closed bus operation mode.

Vår Energi has initially secured a three-year fixed operating period, while the four subsequent one-year options reserve contract extension space for both parties. The fixed period and the options must be calculated separately; the latter does not constitute confirmed contract backlog. The rig will transition to the Vår Energi project after completing its existing operating contract.