Odfjell Drilling notes the signing of a contract between ExxonMobil Canada Ltd (“ExxonMobil”) and SFL Corporation (“SFL”) for the Odfjell Drilling managed 6th generation semi-submersible Hercules.

The Contract is expected to commence in Q2 2023 and has a firm duration of approximately 135 days, with an extension option for approximately 60 days.

Odfjell Drilling announced in May 2022 that it had agreed with SFL to provide marketing and management services for the Hercules. This Contract is the first to be signed since entering the agreement with SFL. Hercules is expected to return to Norway in December 2022 following which Odfjell Drilling will takeover management of the rig on SFL’s behalf. The rig will undergo a scheduled special periodic survey in Norway before mobilisation to Canada.

Kjetil Gjersdal, Chief Executive Officer Odfjell Drilling AS commented:
“Since signing the management agreement with SFL for Hercules, we have worked hard to facilitate the rig being deployed on contract and are very pleased by today’s announcement.

Similarly, we are delighted to be working with ExxonMobil on this new contract and to enter the key harsh environment market of Canada for the first time. The contract is an opportunity for Odfjell Drilling to further demonstrate its industry leading harsh environment capabilities.”

KeyFacts Energy Industry Directory: Odfjell Drilling