Oslo-listed semisub player Odfjell Drilling has lined up more long-term work for its owned rig Deepsea Aberdeen, signing a letter of intent with an undisclosed client that would keep the harsh-environment unit busy into 2029.
The LOI covers a programme starting in late 2026, directly after the rig completes its current deal, and would extend its firm backlog until the second quarter of 2029.
CEO Kjetil Gjersdal said the extension aligns with the company’s focus on locking in steady work for its fleet.
“Maintaining strong, continuous backlog coverage eliminates cashflow risk and allows us to invest in our rigs, our people and our client relationships,” he said.
Earlier this month, Odfjell Drilling said it was in active dialogue with clients regarding further extensions and expected to secure additional backlog in the near future. The Deepsea Nordkapp and Deepsea Aberdeen are currently the first two rigs available in the fleet, both holding unpriced options with Aker BP and Equinor, respectively.
The 2014-built Deepsea Aberdeen is currently on contract to Equinor until the third quarter of 2026. The Norwegian major also has options that could have kept the rig employed until 2029. Odfjell Drilling’s 2009-built Deepsea Atlantic is also fixed to Equinor until at least mid-2027.
