Bermuda-based shipowner SFL Corporation has finalised a drilling agreement with an unnamed multinational oil and gas firm for the semi-submersible rig Hercules. Representing an estimated value of $170 million, the contract will span a minimum term of 400 days.
The charter is expected to commence in the first quarter of 2027, according to a company statement. Currently located in Norway, the vessel will undergo preparations for mobilisation to Canada later this year.
Norwegian offshore contractor Odfjell Drilling is scheduled to manage the rig on behalf of the company throughout the duration of the agreement.
Commenting on the deal, Chief Executive Officer of SFL Management Ole B. Hjertaker noted that the vessel has successfully operated on the east coast of Canada on multiple occasions.
“We see significant demand for harsh environment, deepwater capable semi-submersibles towards the end of the decade and believe this contract should position the rig attractively for prospective drilling campaigns,” Hjertaker added.