Odfjell Secures New Well Services Contracts

Norway's Odfjell Drilling reported Wednesday that its well services division has signed a new deal with Statoil for tubular running services and rental services on the Norwegian Continental Shelf.

Statoil has awarded Odfjell Well Services a frame agreement for tubular running services on its NCS installations that has a duration of six years from January 2015, plus two two-year options. The firm added that during the last six months Odfjell Well Services secured new contracts with a total estimated turnover of $250 million.

Odfjell Drilling CEO Simen Lieungh commented in a company statement:

"These new contracts are important elements in developing our well services business area. We are able to maintain sales and activity level in a tougher market. Our main ambition is to provide Statoil and other clients with safe and cost efficient solutions in Norway and other markets."

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