Equinor has exercised one additional well to be added to the Deepsea Stavanger contract. The well has been exercised under the Continued Optionality mechanism in the contract entered into between the parties in May 2020, as part of the overall Master Frame Agreement..The additional well shall follow the current firm period of three wells which commences during Q1 2022.

The rig is now expected to be occupied into Q3 2022. The commercial value for the additional well is approximately USD 20M.

The Deepsea Stavanger’s contract includes a notable performance incentive rate which shall apply when wells are delivered safely and ahead of target. Integrated services are provided through the contract and compensated separately.

About Odfjell Drilling

Odfjell Drilling is a listed international drilling, well service and engineering company with 2500 employees and operations in more than 20 countries.

About Equinor

Equinor (OSE:EQNR, NYSE:EQNR), is an international energy company with a proud history. Formerly Statoil, we are 20,000 committed colleagues developing oil, gas, wind and solar energy in more than 30 countries worldwide. We’re the largest operator in Norway, among the world’s largest offshore operators, and a growing force in renewables. Driven by our Nordic urge to explore beyond the horizon, and our dedication to safety, equality and sustainability, we’re building a global business on our values and the energy needs of the future.