Equinor extends Norwegian offshore drilling contract for Shelf Drilling jack-up rig for $81 million

April 10, 2024

(WO) – A subsidiary of Shelf Drilling (North Sea), Ltd. has secured a contract extension for the Shelf Drilling Barsk jack-up rig with Equinor for operations at the Gudrun field in the Norwegian Continental Shelf.

Source: Shelf Drilling

The firm term of the extension is two wells with an estimated duration of 254 days in total. The contract extension also includes options for three wells at Gudrun.

The Shelf Drilling Barsk rig is scheduled to commence operations with Equinor at the Sleipner Vest field in May 2024, with an initial scope of two wells and an estimated duration of 270 days, with options for two wells.

Equinor has also exercised the first option well at Sleipner Vest with an estimated minimum duration of 83 days. The contract value of the additional firm period excluding certain integrated services is approximately $81 million.

David Mullen, Chief Executive Officer, Shelf Drilling, said, “We are pleased to strengthen our collaboration with Equinor with this important contract extension. We see this as a reflection of Equinor’s confidence in Shelf Drilling to deliver these challenging wells on both Sleipner Vest and Gudrun. We remain on track to commence our contract in May 2024 and are fully committed to providing safe and efficient operations to Equinor.”

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