Odfjell Drilling has received a notice of early termination from BP Exploration Operating Company of the contract for the semi-submersible drilling platform Deepsea Aberdeen.
The contract was originally due to expire in April 2022. In accordance with the contract terms, Odfjell Drilling will be compensated with an early termination fee through monthly payments until April 2022.
Concurrent with the BP contract termination, Odfjell Drilling has been awarded a contract by Wintershall Dea Norge for use of Deepsea Aberdeen on exploration wells at the Dvalin North and Bergknapp fields and development wells at Vega field on the Norwegian Continental Shelf.
The contract consists of four firm and three optional wells with an expected firm duration of approximately 300 days. The contract is anticipated to commence in February/March 2021.
In addition, Wintershall Dea and Odfjell Drilling have entered into a long-term frame agreement for potential future rig needs.
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