…campaign set to last atleast 112 days
John Fredriksen-controlled Northern Ocean, a semisub spin-off of Northern Drilling, has won a contract for one of its rigs with a subsidiary of Rhino Resources.
The deal is for the 2018-built Deepsea Mira for operations in Namibia set to start in mid-July 2025.
The contract includes one firm well for Rhino, one firm well for another operator, and three optional wells, with an estimated firm duration of 112 days and a projected value of around $40m (about N$712 million). The contract will increase Northern Ocean’s firm backlog to between $395m and $412m.
The rig will drill the Volans-1X exploration well, the third successive well to be drilled on PEL85 by Rhino and its partners NAMCOR, Korres Investments, and Azule Energy.
“This agreement will ensure Deepsea Mira continues its operations in Namibia, following its successful campaign with Total. Most notably, Northern Ocean, together with its operator Odfjell Drilling, remain the only drilling contractor with ongoing operations and a continuous presence in Namibia over the past two years,” said Arne Jacobsen, CEO of Northern Ocean.