Deepsea Stavanger has been awarded a five-year firm contract withAker BP ASA for drilling programs scheduled to commence early 2025. The day rates for the contract will be market based, within a pre-agreed range. Day rate to be set by two brokers nine months prior to each calendar year. The base contract value is in the range ofUSD 620 million toUSD 730 million , where the ceiling of the day rate range shall be adjusted based on an inflation adjustment formula starting fromJune 2023 . In addition to the market based day rates,Aker BP shall pay performance and fuel savings incentive bonuses. The contract award is subject to license partner approval and Norwegian governmental approvals of Plan for Development and Operation (PDO) of planned projects. Kjetil Gjersdal, CEO ofOdfjell Drilling says: "This long term contract confirms our strong relationship withAker BP . I am confident that Deepsea Stavanger is the right rig to deliver on the high environmental and operational ambitions on the major field development projectsAker BP is planning to execute." For further queries, please contact:Gillian Basson , Corporate Secretary +44 (0)7796 547889 gbas@odfjelldrilling.comAberdeen, United Kingdom 24 August 2022 Odfjell Drilling Ltd.
Click here for more information
© Oslo Bors ASA, source