Wintershall Dea extends Odfjell deal by four years

Oil and gas company Wintershall Dea Norge has exercised two options in a platform drilling services contract with Odfjell Drilling on the Brage platform off Norway.

In December 2016, Wintershall Dea warded Odfjell Drilling a 4+2+2 year platform drilling services contract on the Brage platform on the Norwegian Continental Shelf.

The firm contract was for four years with an estimated contract value in the range of $50-70 million subject to operational activity during the contract duration.

The contract also included 2+2 year options.

Odfjell Drilling said on Friday that Wintershall Dea has now exercised both of those options.

This means that the contract has been extended by four years with effect from mid-December 2020.

Simen Lieungh, CEO Odfjell Drilling, said: “We once again appreciate the recognition given by Wintershall Dea and its partners by awarding us a long term extension on the Brage platform.

“Odfjell Drilling is committed to deliver safe and quality operations, and we look forward to continue the strong collaboration with Wintershall Dea in the years to come”.

Brage is Wintershall Dea’s first manned platform in Norway. Located in the northern North Sea, 125 kilometres west of Bergen, it is one of the oldest producing platforms in Norway.

First discovered in 1980, the field came into production in 1993 and has been in operation for more than 25 years.

Brage is a fully integrated platform with living quarters, auxiliary equipment module, process modules, drilling modules, well and manifold areas.

Also on Friday, Odfjell Drilling secured more work for its Deepsea Atlantic drilling rig with Equinor for operations in Norway.

Odfjell said that the rig work will start after the completion of the current scope estimated to be in 1Q 2021.