Odfjell Drilling announced that it has received signed  confirmation from Aker BP ASA (“Aker BP”) that it will extend the firm contract  period for use of the Deepsea Nordkapp by 1-year.

With this signed confirmation, the Deepsea Nordkapp extends its firm contract backlog to the end of 2027, after which Aker BP retains further options.

The operating rate applicable to the extension shall be set by the end of 2025, using a rate reflective of market rates and defined by two independent rig  brokers.

Kjetil Gjersdal, Chief Executive Officer of Odfjell Drilling AS commented:
“We are delighted to have agreed this extension for use of the Deepsea Nordkapp.  Deepsea Nordkapp has been on contract with Aker BP as part of the Semi Alliance since the rig was delivered to us in 2019 and has worked on many projects during  this period. With this contract extension secured, we look forward to continuing our close cooperation with Aker BP.”