Further to the notice issued on 22 March 2021, Aker BP has exercised a scope based option for Deepsea Nordkapp under the Contract entered into between the parties in April 2018.

The option covers the time necessary to complete four  Kobra East Gekko development wells.  Operations on the KEG development wells are expected to commence in January 2023 with a combined duration of approximately 430 days.  With the current term based contract ending in June 2023 the newly exercised KEG development scope represents approximately 8.5 months of additional backlog for the Deepsea Nordkapp occupying the unit into Q1 2024.

The approximate contract value for the exercised optional scope is USD 80 million (excluding any integrated services). In addition, a performance bonus will be applicable.

An additional option period has been agreed which, if exercised shall follow completion of the KEG development wells.

Simen Lieungh, CEO Odfjell Drilling AS, says: “We are pleased to see Aker BP’s continued commitment to our co-operation and the Deepsea Nordkapp.  We look forward to continuing this successful co-operation and our joint effort in delivering best in class wells at the lowest cost whilst minimizing environmental impact.”