Odfjell Secures Maria Field Drilling Contract

Wintershall Norge AS has awarded Odfjell Drilling's Deepsea Stavanger (UDW semisub) a contract for the drilling of six production wells on the Maria field in the Haltenbanken area on the Norwegian Continental Shelf.

The contract, which has an estimated value of $175 million, is expected to commence on April 1, 2017. Deepsea Stavanger is currently employed by BP in Angola. Odfjell Drilling has stated that it will continue to market the rig in order to secure temporary employment until it starts work on the Maria field.     

Odfjell Drilling CEO Simen Lieungh commented in a company statement:

“We appreciate the trust Wintershall and its partners show us in developing the Maria field. This contract represents yet another recognition of Odfjell Drilling's ability to provide efficient drilling operations in harsh environment areas and I can assure that Odfjell Drilling will demonstrate the company's firm commitment to the successful development drilling of the Maria field. This contract is an important addition to Odfjell Drilling's order backlog and increases the company's earnings visibility during a challenging market cycle.”