Odfjell Wins More Work For Ultra Deepwater Drillship

Published at 01:17PM - 04/11/15

Offshore drilling contractors, Odfjell Drilling, has confirmed that it has secured further work for its ultra deepwater drillship- the Deepsea Metro I.

According the the Norwegian based firm, current lessees, VietGazprom, have exercised an option to extend their current hire of the vessel.

VietGazprom, a joint venture between Russia’s Gazprom and state owned Petrovietnam, had originally hired the offshore driller to explore two blocks offshore Vietnam back in August.

The contract was due to end in mid January, a period of 20 weeks, and worth around US$40 million to Odfjell.

The extension will be used by the VietGazprom to conduct further well tests.  No exact duration has been put on the extension, however Odfjell have estimated it to be in the region of 30-40 days, netting the firm an estimated US$ 8.5 – US$ 11.4 million.

Odfjell have said that there is an option for a second well testing phase written into the contract that is also likely to be exercised.