Equinor has exercised a further well for the Deepsea Stavanger under the continued optionality mechanism provided for in the contract entered into by the parties in May 2021. Following the exercising of this well, which has an estimated duration of 120 days, the Deepsea Stavanger’s firm backlog now extends into Q4 2023. Equinor has the opportunity to exercise further wells under the continued optionality mechanism.

The day rate is similar to the current contract up to 1st May 2023 from which time there is an increase if certain CO2 targets have been achieved. A notable performance incentive rate in addition shall apply when wells are delivered safely and ahead of target.

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.