Aker BP has exercised a scope-based option on a contract with Odfjell Drilling for the use of the Deepsea Nordkapp semisubmersible. The two parties originally entered into the contract in April 2018.
The option covers the time necessary to complete four Kobra East Gekko (KEG) 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 $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.
“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,” said Simen Lieungh, CEO of Odfjell Drilling.