{"id":58816,"title":"Odfjell Drilling wins 518 million dollar contract for Deepsea Bergen","publisher":"Stockmark.IT","author":"Stockmark.IT Website","published":"2026-09-11T05:07:48+00:00","modified":"2026-09-11T05:07:48+00:00","canonical_url":"https://stockmark.it/odfjell-secures-518m-contract-for-deepsea-bergen-from-var-energi/","markdown_url":"https://stockmark.it/odfjell-secures-518m-contract-for-deepsea-bergen-from-var-energi.md","json_url":"https://stockmark.it/odfjell-secures-518m-contract-for-deepsea-bergen-from-var-energi.json","category":"Business","categories":["Business","Companies"],"featured_image":"https://i0.wp.com/stockmark.it/wp-content/uploads/2026/09/odfjell-drilling-wins-518-million-dollar-contract-for.png?fit=1536%2C1024&quality=80&ssl=1","format":"news","language":"en-GB","content":"Norwegian deepwater driller Odfjell Drilling has secured a letter of award from Vår Energi for the deployment of the Deepsea Bergen rig. The estimated value of the three-year contract is 518 million dollars, equivalent to 4.81 billion Norwegian kroner. The award is scheduled to commence in early 2028, following the completion of the unit’s current contractual obligations.\n\nThe financial terms of the agreement include mobilisation fees but do not cover annual escalation, integrated services, performance bonuses, or fuel incentives. This new award extends the firm contract backlog for the Deepsea Bergen to the first quarter of 2031. Kjetil Gjersdal, chief executive officer of Odfjell Drilling, expressed satisfaction with the partnership, noting that the terms facilitate a long-term relationship. He stated that this arrangement allows both parties to invest in the rig to ensure safe and efficient drilling operations. Gjersdal also highlighted that securing this contract less than 12 months after the company acquired the unit confirms its capability to deliver high-quality operational performance.\n\nThe Deepsea Bergen is constructed to the CS 60 E harsh environment specification. The vessel is equipped with selective catalytic reduction power units that are described as environmentally improved and nitrogen oxides-friendly. It also features a configuration for closed-bus or ER operations. The rig utilizes a conventional mooring spread suitable for water depths ranging from 70 metres to 500 metres. Its loading capacity stands at 7,500 tonnes in all operating conditions, a feature the company says reduces the reliance on supply vessels. The unit has previously conducted operations in the Barents Sea during winter and holds a winterisation class notation for work in Arctic conditions.\n\nThe drilling system includes a NOV derrick with the capacity for offline drill pipe stand and casing-building activities. The rig is configured for worldwide operations and is designed for exploration and development drilling in harsh environments. In December 2025, Odfjell Drilling completed the acquisition of the Deepsea Bollsta drilling rig. This deal also included the novation of the rig’s drilling contract with Equinor, covering a firm period until early 2028 with options for five one-year extensions."}