Odfjell Semisub Contracted for 1st Deepwater Drilling Campaign in Tanzania

ODFJELL SEMISUB HAS signed a contract with one of Ophir's operating subsidiaries for the use of the dynamically positioned semi-submersible Deepsea Stavanger, on behalf of the Blocks 1, 3 and 4 joint ventures in Tanzania that Ophir operates in partnership with BG Group.

The Deepsea Stavanger will be used for the first deepwater drilling campaign ever conducted in Tanzania. The contract is scheduled to commence later this year when the rig arrives in Tanzania during August. Delivery from Daewoo Shipbuilding & Marine Engineering (DSME) in South Korea is expected during July. The contract duration provides for two firm wells to be drilled with provision for a third. The contract value is approximately US$50mn.

CEO of Odfjell Drilling Mr Ketil Lenning said, "We are very pleased to be part of a pioneering project together with Ophir and we hope this is the beginning of a new and prosperous era for Tanzania. The project gives Odfjell the opportunity to demonstrate this rig's capabilities with an operator focused on safety and efficiency."

Ophir's Managing Director Dr Alan Stein commented, "We are delighted to enter into a contract with Odfjell Drilling for the Deepsea Stavanger. We have been very impressed with the specifications of the Deepsea Stavanger and the collaborative approach of the Odfjell Drilling team in getting ready for this milestone drilling campaign offshore Tanzania."

Both Deepsea Stavanger and its sister rig Deepsea Atlantic are designed with an environmental focus. They are constructed with clean drain system with controlled discharge to sea, low NOX emission engines, enclosed derrick and prepared for cuttings reinjection among others.

The rigs can operate in all areas of the world including harsh environment and water depths up to 3000 m. They are built to comply with Norwegian regulations and applicable international standards.

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