Lundin Energy awards LOI to Odfjell Drilling for Deepsea Stavanger rig

Lundin Energy Norway has signed a letter of intent (LOI) with Odfjell Drilling for the use of the latter’s Deepsea Stavanger under a contract worth $11-14 million plus incentives.

The letter of intent will be subject to finalizing contract and final approvals from the involved entities.

The contract is slated to begin in Q3 2021 with a duration of one firm well along with eight optional wells.

Simen Lieungh – CEO of Odfjell Drilling said: “We are very pleased to continue to add backlog to our fleet and this letter of intent from Lundin Energy Norway again confirms our strong position in the harsh environment market. We are confident that Deepsea Stavanger will meet the high expectations set by Lundin Energy Norway and its partners.”