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Odfjell Drilling signs contracts with Equinor on Johan Sverdrup and Breidablikk

Reference is made to the stock exchange notices of 7 July 2020 and 5 October 2020, in which Odfjell Drilling announced the award of letters of intent with Equinor on Johan Sverdrup Phase 2 and Breidablikk drilling campaigns for Deepsea Atlantic and Aberdeen, respectively. The Breidablikk drilling campaign is subject to PDO approval. Final contracts for both drilling campaigns have now been signed on such conditions as disclosed in aforementioned stock exchange notices.

This news follows Equinor’s announcement that a production increase for the Johan Sverdrup field was called for by the end of 2020. By then, the production capacity will rise from 470,000 to approximately 500,000 bbl/day.

The Breidablikk field’s expected production is about 200 million bbl with investments totaling about NOK 18.6 billion. The development concept chosen for the Breidablikk field is a subsea development with 23 oil producing wells from four subsea templates that are controlled from Grane. Breidablikk will be tied in to the Grane platform for oil processing prior to being brought ashore at the Sture terminal.

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