News listings

energy-pedia general news

Norway flagNorway

Europe / Caspian / CIS >>> Norway

Norway: Northern Ocean announces contract award with Equinor for Deepsea Bollsta


18 Nov 2024

Photo - see caption

Northern Ocean has announced a contract award for Deepsea Bollsta from Equinor for work in Norway. The contract is expected to commence in the second half of 2025 and has an estimated firm duration of two years, plus five one-year optional periods, where the first year is priced and the following years are unpriced. The contract adds approx. USD 335 million of firm backlog to the Company with the addition of around USD 80 million for client specific upgrades, integrated services and mobilisation from Namibia to Norway. This will increase Company’s firm backlog to approx. USD 465 million.

NOL will work together with its operational manager Odfjell Drilling to move the rig from Namibia for operations in Norway in a safe, secure and efficient manner, in direct continuation of completed work in Namibia.

In addition, the Company has signed a letter of intent with an undisclosed operator for one well work in Norway, to be completed in advance of the Equinor contract.

Arne Jacobsen, Chief Executive Officer of NOL, commented: 'This marks a turning point for the Company to secure a longer-term contract in Norway with a client like Equinor, which adds more than USD 415 million to the revenue backlog. This provides a solid foundation for NOL to further develop the company and continue to build backlog, enabling the next steps of the company strategy.

This is yet another proof that the NOL business model, combining NOL`s superior assets with Odfjell Drilling’s operations, is a very attractive solution for our high-quality clients.'

Original announcement link

Source: Northern Ocean





Bookmark and Share


A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current Deals

Current Upstream Deals: 195

Completed Deals

Completed Upstream Deals: 6640

Company Profiles

Current Company Profiles: 2932

Corporate Activity

Current Corporate Activity articles: 4197

Companies Looking

Current number of articles: 466

Company Sales

Current Company Sales articles:1674

Geostudies

Current Geostudies articles: 1003

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

Syntillica
Rose & Assocs
energy365
Telos NRG
Merlin
Union Jack Oil 149
Bayphase
OPC
Borchwix
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com