Equinor Extends Deepsea Atlantic Contract to Late 2027 | Mariner News

Equinor Energy AS has exercised priced options for two additional wells for Odfjell Drilling’s Deepsea Atlantic rig, securing the asset’s employment into late Q4 2027. This extension is in direct continuation of the rig’s current contract, providing significant forward visibility for its North Sea operations.

The decision provides Odfjell Drilling with extended revenue certainty for the Deepsea Atlantic, with the new term maintaining the pricing agreed in the original contract. This minimizes re-chartering exposure for a high-specification asset and solidifies the drilling contractor’s backlog well into the next year.

For Equinor, the exercise of these pre-agreed priced options ensures continuity for its drilling programs, leveraging existing contractual terms to avoid potential market rate fluctuations or availability challenges that could arise from re-tendering for these wells. It underscores the operator’s ongoing commitment to exploration and production activities requiring advanced drilling capabilities.

Equinor retains further priced options for an additional two wells, indicating potential for even longer-term deployment of the Deepsea Atlantic beyond the newly extended period.