Odfjell Drilling lands major contract in tough market

Although the market for rigs has declined significantly, individual contracts are still being offered up. Odfjell Drilling has just landed a major contract with German oil and energy company Wintershall in the North Sea.

Photo: North Atlantic Drilling

Times are tough market for in the drilling rig market, which has experienced a dramatic setback in activities over the last half year - though a few rig providers have managed to snatch up contracts, such as Norwegian company Odfjell Drilling which has just won a major contract for its semi-submersible rig with Wintershall. The German oil and energy company has leased the rig, known as the Deepsea Stavanger, for almost two years, informs Odfjell Drilling.

The contract covers 574 budgeted days and is worth USD 175 million. From April 2017, the rig will be used to drill six wells in the Maria oil field, which lies in the North Sea and will eventually be connected to oil platforms in other fields which are currently in production. The contract is among the few awarded in 2015. According to Wintershall's project director in the Maria field, Hugo Dijkgraaf, this is only the second big contract awarded this year.

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