ODL - additional work added to Deepsea Stavanger Equinor Contract

ODL - additional work added to Deepsea Stavanger Equinor Contract

13 May 2022 16:51 CEST

Equinor has exercised further work for the Deepsea Stavanger under the continued
optionality mechanism provided for in the contract entered into by the parties
in May 2021. Following this addition the Deepsea Stavanger now has six (6)
remaining wells to be drilled which are expected to occupy the rig into Q1 2023.
Equinor has the opportunity to exercise further wells under the continued
optionality mechanism.

The day rate is similar to the current contract and a notable performance
incentive rate in addition shall apply when wells are delivered safely and ahead
of target. Integrated services are provided through the contract and compensated
separately.

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Source

Odfjell Drilling Ltd

Provider

Oslo Børs Newspoint