Odfjell wins Wintershall contract

Norway

OSLO, September 7, 2015 – German exploration and production company Wintershall has leased an vessel from Norwegian shipping company Odfjell to drill in the newly-opened Maria oil and gasfield in Norway, Odfjell said in a Monday press release.

Odfjell’s vessel Deepsea Scavenger, currently contracted to BP in Angola, will drill six wells for a total of $175 million, or a dayrate of $305,000. Drilling will start in April 2017. Odfjell leased the vessel to BP for a dayrate of $545,000, and that contract will expire in November.

The award comes on the heels of Wintershall getting the green light from the Norwegian government to develop the field. The NOK15.3-billion ($1.85-billion) project aims at the 188 million barrels of oil equivalent in reserves, of which the majority is oil. Wintershall holds a 50-percent stake in the field. The Norwegian government via its oil and gas holding Petoro holds a 30-percent stake, and UK utility company Centrica holds 20 percent.

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