Deepsea Stavanger wins contract with JX Nippon

January 18, 2016

HAMILTON, Bermuda -- JX Nippon Exploration and Production (UK) Ltd. has awarded Odfjell Drilling’s semi‐submersible Deepsea Stavanger a contract for drilling one exploration well located West of Shetland on the UK Continental Shelf.

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Odfjell Drilling's Deepsea Stavanger.

“The contract with JX Nippon secures interim utilization of Deepsea Stavanger before start-up of the Wintershall drilling contract in 2017,” Simen Lieungh, CEO of Odfjell Drilling, said. “We have a fleet of high performing rigs with a strong track record that gives us confidence in our market position even if the competition is tougher than ever.”

The contract duration is estimated to be between 60 and 75 days, with operations expected to commence in the second quarter.

Deepsea Stavanger finalized its contract with BP in Angola in November 2015 and thereafter completed its 5‐year special periodic survey. The rig is now underway to Norway before mobilizing to UK waters for start‐up on the JX Nippon contract.

Deepsea Stavanger has a contract with Wintershall on Maria field on the Norwegian Continental Shelf starting early 2017.

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