OMV, Transocean sign long-term rig contract for Norwegian Sea
Sept. 23, 2022
OMV (Norge) AS and Wintershall DEA have let a contract for the Transocean Norge semi-submersible drilling rig to drill 17 wells. They have also entered an exclusive partnership to use the rig to drill additional wells in the Norwegian Sea from 2023 to 2027.
For OMV, the contract scope entails drilling three development wells for the Berling project (Iris Hades), two exploration wells, and one optional slot. For Wintershall, the scope includes drilling four exploration wells, four development wells for the Maria Revitalization project, and three development wells at Dvalin North.
Transocean Norge is a sixth-generation drilling rig with modifications to improve emission footprint such as hybrid energy and digitally optimized power distribution. The rig is fitted for exploration and development operations on the Norwegian Continental Shelf, including high pressure-high temperature and shallow-water work.
The full contract period is 1,071 days at an average day rate of $408,000 which would contribute $437 million in backlog, excluding bonuses and additional services. The current firm term is 208 days, which contributes about $72 million in backlog.
Transocean owns 33% interest in the Transocean Norge through a joint venture with Hayfin Capital Management LLP. Certain affiliates of Hayfin own the remaining 67%.
