Lundin Energy Norway and Odfjell Drilling have signed a letter of intent for the use of Deepsea Stavanger. The letter of intent is subject to finalization of contract and final approvals from involved parties. The contract is set to commence in Q3 2021 with a duration of one (1) firm well plus eight (8) optional wells. The firm contract scope has an estimated contract value of approximate USD 11-14 million plus incentives. The contract is set to commence in Q3 2021, back-to-back with Deepsea Stavanger’s upcoming five well contract with Aker BP.

“We are very pleased to continue to add backlog to our fleet and this letter of intent from Lundin Energy Norway again confirms our strong position in the harsh environment market. We are confident that Deepsea Stavanger will meet the high expectations set by Lundin Energy Norway and its partners” says CEO of Odfjell Drilling AS, Simen Lieungh.

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 Lundin Energy

Lundin Energy has grown from an oil and gas exploration company into an experienced Nordic energy developer and operator. We continue to explore new ideas, new concepts and new solutions to maintain our position as an industry leader in production efficiency, sustainability and decarbonisation. (Nasdaq Stockholm: LUNE).