Odfjell Drilling Ltd.

Odfjell Drilling has received a letter of award from Vår Energi for deployment of the Deepsea Bergen rig, with an estimated contract value of $518m, or Nkr4.81bn. The three-year award is due to begin in early 2028, after the unit completes its current contract, and the value includes mobilisation fees but excludes annual escalation, integrated services, performance bonuses and fuel incentives. The award extends Deepsea Bergen's firm contract backlog to the first quarter of 2031. CEO Kjetil Gjersdal said the terms allow both Vår Energi and Odfjell Drilling to invest in a long-term partnership arrangement, and that the company was pleased to secure a long-term contract for the unit less than 12 months after acquiring it. The rig is built to the CS 60 E harsh environment specification and has a conventional mooring spread for water depths from 70m to 500m, with a loading capacity of 7,500t in all operating conditions.