Stavanger: Extension for Oslo-listed player
Rig nail-biter for Odfjell
28 February 2014 10:51 GMT
Odfjell wins BP award for drilling work in Block 18
29 October 2010 01:12 GMT
20 May 2014 06:56 GMT
The Norwegian driller has won an extension for work at Block 18 in Angola worth about $210 million, yielding a dayrate of around $532,000.
The company will be required to drill six wells under the contract terms, with work expected to take about 13 months.
The extension also includes two unpriced options for two wells each.
Odfjell was awarded the original $340 million contract back in 2010, giving a dayrate of about $466,000.
The extension was among those being targeted by the contractor amid fears of a softening rig market with lower dayrates for such units.
Chief executive Simen Lieungh had warned of shorter lead times for work and a lack of new long-term contract tenders as major oil companies cut back spending.
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