Odfjell Drilling Ltd (Odfjell Drilling) is pleased to announce that it has extended its Alliance Agreement (the “Alliance”) with Aker BP ASA (Aker BP) and Halliburton AS (Halliburton) for a further 5 years.

The Alliance with its “one for all, all for one” collaboration model, has the objective of executing drilling and well projects with close cooperation between the members of the Alliance ; ensuring greater value for all parties through common incentivised goals. The Alliance will result in the development and use of new technologies to automate and digitalise drilling operations, supporting the Alliance’s combined goals of improving safety, increasing efficiency and reducing the carbon footprint of the wells drilled.

Odfjell Drilling has two semi-submersibles contracted to Aker BP ; the Deepsea Nordkapp, which is currently operating with Aker BP, and the Deepsea Stavanger, which is due to commence operations with Aker BP in early 2025. It is expected that both units will operate under the renewed Alliance model subject to approval from the respective licenses.

Kjetil Gjersdal, CEO Odfjell Drilling AS, commented:
“We are pleased to extend this Alliance with Aker BP and Halliburton, whom we have been working closely with for many years. The extension of the Alliance is recognition of the value of our three companies working together and also of Odfjell Drilling’s capabilities to deliver safe and efficient wells with a strategy focused on innovation and collaboration.”

“The Alliance will provide an important foundation enabling implementation of new technology and execution methods to reduce delivery costs of offshore wells and the carbon footprint of our operations. These are key elements to remain competitive in the energy transition and as part of the Alliance we will take these important steps together with Aker BP and Halliburton.”

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 Aker BP

Aker BP is an independent E&P company with exploration, development and production activities on the Norwegian Continental Shelf. Aker BP is the operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The company is also a partner in the Johan Sverdrup field. Aker BP is headquartered at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker ‘AKRBP’.

About Halliburton

Founded in 1919, Halliburton (NYSE: HAL) is one of the world's largest providers of products and services to the energy industry. With approximately 45,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset.