Odfjell Drilling and CIMC Raffles are pleased to announce that Neptune Energy Norge Neptune Energy has extended the contract for the Deepsea Yantai with an additional 3 wells securing that the rig is fully occupied to mid Q2 2022.

The extension is made so that the rig can drill one more well at the Fenja field and to drill two more exploration wells in areas where Neptune Energy holds interest. Neptune has, in addition, the option to exercise further wells under the current contract.

Neptune Energy and Odfjell Drilling are also pleased to announce that we have entered into a long-term frame agreement for potential future rig needs. The frame agreement was signed during a rig visit to Deepsea Yantai by Neptune Energy Norge Managing Director Odin Estensen and Odfjell Drilling AS CEO Simen Lieungh.

“This is an important contract for us which ensures our position as the preferred supplier to Neptune Energy and further allows us to closely cooperate with regards to efficiency, solutions and projects. Deepsea Yantai has become a very solid rig in our portfolio and we aim to deliver in line with, and hopefully exceed, Neptune’s expectations going forward.” 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 Neptune Energy Norge AS

Neptune Energy Norge is a subsidiary of Neptune Energy. The company is the operator of the Gjøa field in the North Sea. It has two operated development projects: Fenja and Duva. In 2020, the company made the Dugong discovery, which is now being considered for development. The Company is a partner in several producing fields: Bauge (under development), Brage, Draugen, Fram, Gudrun, Hyme, Ivar Aasen, Njord and Snøhvit. Neptune Energy Norge is a participant in a total of 81 licences. For the full year 2020, Neptune produced 55 kboepd in Norway.

About Neptune Energy Group

Neptune Energy is an independent global E&P company with operations across Europe, North Africa and Asia Pacific. The business had production of 142,000 net barrels of oil equivalent per day in 2020 and 2P reserves at 31st December 2020 of 601 million barrels of oil equivalent. The Company, founded by Sam Laidlaw, is backed by CIC and funds advised by Carlyle Group and CVC Capital Partners.