Odfjell to Take Delivery of 'Deepsea Aberdeen' Rig by November

Norway's Odfjell Drilling reported Friday that, following the water ingress incident at the DSME yard in South Korea December 28, a revised time scheduled for the recovery and project finalization for the 'Deepsea Aberdeen' newbuild project has been established. Odfjell will now take delivery of the rig in October/November 2014 with the objective to begin drilling operations during the first quarter of 2015.

Odfjell added that as a consequence of this new schedule, the project cost is estimated to increase by $10 million.

The firm also reported its results Friday. These showed that operating revenue for 2013 was $1,174 million compared to $1,094 million in 2012, while the firm's profit margin (at the EBITDA level) increased from 30 percent to 33 percent.

"We are satisfied with the company's development in 2013 and will continue our efforts to further improve efficiency and performance in our services and operations," Odfjell CEO Simen Lieungh said in a company statement.

 



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Searcher, BGP Complete Seismic Surveys... (Jun 30)
 -  Papua New Guinea Awards Petroleum Pros... (Jun 30)
 -  APLNG Delivers First LNG Cargo to Kans... (Jun 30)
 -  Pilot Energy Seeks Partner for Explora... (Jun 30)
 -  Quadrant to Drill Driftwood-1 Well in ... (Jun 30)


Most Popular Articles

From the Career Center
Jobs that may interest you
Lead Service Technician
Expertise: Field Service Tech|Well Servicing & Testing
Location: Spring, TX
 
Lead Service Technician
Expertise: Field Service Tech|Well Servicing & Testing
Location: Spring, TX
 
Compressor Service Technician
Expertise: Field Service Tech|Maintenance Technician|Mechanical Technician
Location: Pennsylvania
 
search for more jobs

Brent Crude Oil : $50.61/BBL 4.17%
Light Crude Oil : $49.88/BBL 4.24%
Natural Gas : $2.86/MMBtu 1.95%
Updated in last 24 hours