Deepsea Atlantic Drilling Rig Returning to Johan Sverdrup

July 9, 2020 | Oil & Gas | Energy Facts Staff Writer | 2min

Equinor and its partners have signed a letter of intent with Odfjell Drilling for the Deepsea Atlantic rig to drill 12 wells during phase 2 of the Johan Sverdrup field development, following its work on phase 1.

The value of the fixed part of the agreement is estimated at around USD 150 million at the current USD exchange rate. The costs of integrated services, maintenance and options for drilling five extra wells are not included in the estimated value. The total contract value will depend on the efficiency of the well deliveries.

The Johan Sverdrup licence partners are Equinor (operator), Lundin, Petoro, Aker BP and Total.

“Johan Sverdrup phase 2 is the next stage in the development of the giant Johan Sverdrup field and a project that strongly impacts activities and spinoffs in Norway. With this contract, Norwegian suppliers have been awarded more than 90 per cent of the project contracts,” says Geir Tungesvik, Equinor’s senior vice president for project development.