BG Group contracts Odfjell's newbuild drillship for drilling campaign offshore Tanzania

Source: Odfjell Drilling

Odfjell Drilling has on behalf of Deep Sea Metro Ltd. secured a contract with the BG Group for its first drillship, the Deepsea Metro I, for a year-long drilling campaign offshore Tanzania. 

The contract with BG Group has a firm duration of 365 days with 3x6 months options and a contract value of approximately US $175 million including mobilization and net taxes, excluding options.

On behalf of Deepsea Metro Ltd, Odfjell Drilling will be manager and operate Deepsea Metro I.

Deepsea Metro I has commenced sea trials which are scheduled to finish by the end of this month. Sea trials are followed by final commissioning and system integration testing prior to delivery. 

Deepsea Metro I is scheduled for delivery from Hyundai Heavy Industries (HHI) early June 2011. The first well is assigned to Woodside Energy for one well in South Korea prior to start of operations in Tanzania.

Deepsea Metro I is the first of two Odfjell ultra-deepwater drillships. Deepsea Metro II will be delivered from HHI in November 2011.

The Metrostar Group retain 60 percent ownership in Deepsea Metro I &II. Odfjell Drilling has a 40 percent ownership in the vessels. Odfjell Drilling is contractually responsible for the construction follow-up and management of the two vessels.

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