SFL Corporation Ltd. Signs Drilling Contract in Canada for the Harsh Environment Semi-Submersible Rig Hercules
August 14, 2023 at 06:02 am EDT
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SFL Corporation Ltd. announced that it has signed a drilling contract in Canada with a subsidiary of Equinor ASA for the harsh environment semi-submersible rig Hercules. The estimated contract value is approximately $100 million. The contract is for one well plus one optional well, and is expected to commence in the second quarter of 2024.
The duration for the firm contract period is approximately 200 days including transit to and from Canada. Odfjell Drilling will manage the rig on behalf of SFL under the contract. Hercules is currently drilling for ExxonMobil in Canada before it will transit to Namibia for a contract with Galp Energia expected to commence in the fourth quarter of 2023.
SFL Corporation Ltd. is an international ship owning and chartering company. The Company is engaged in the ownership and operation of vessels and offshore related assets, and also involved in the charter, purchase and sale of assets. The Companyâs assets consist of 15 dry bulk carriers, 32 container vessels (including seven chartered-in vessels), one jack-up drilling rig, one harsh environment semi-submersible drilling unit, six oil product tankers, seven crude oil tankers, three car carriers and four car carriers. The Company owns and manages a fleet of 73 vessels, split between tankers, bulkers, container vessels, car carriers and energy assets. Its vessels include SFL Yangtze, SFL Yukon, SFL Sara, SFL Kate, SFL Humber, SFL Hudson, Arabian Sea, Thor Highway, Odin Highway, Maersk Pelepas, Maersk Phuket Maersk, Linus, SFL Puma, SFL Panther, Semi-submersible, SFL Albany, SFL Fraser and others. It also partly owns four chartered-in container vessels in its associated companies.