Odfjell Drilling Ltd. announced the signing of a letter of intent (LOI) with an undisclosed client to extend the use of its Deepsea Aberdeen platform, which specializes in operations in hostile environments. hostile environments.
The new phase will begin at the end of 2026, just after the end of the current contract. With this extension, the company adds almost three additional years to its firm order book, securing operations of the Deepsea Aberdeen platform until the second quarter of 2029.
Why is this news important?
The press release, through the words of its CEO, Kjetil Gjersdal, aims to convey two main ideas:
1. Financial stability and security: For Odfjell, the most important thing is to have their platforms working continuously to avoid downtime, which costs money, and the platform contract will generate revenue until 2029. At the same time, they can invest in maintenance, platform improvements, employee training and strengthening customer relationships.
2. Confidence in their Product: The company emphasizes that the Deepsea Aberdeen platform is considered one of the best platforms in the world for harsh environments. By assuring you of long-term work, they can maintain their high performance and reputation.
Future projections
Although specific details about the client or the estimated value of the contract have not yet been disclosed, this letter of intent represents a firm step in the company’s long-term strategy. With a platform in continuous operation and a solid contractual base, Odfjell Drilling is positioned with an advantage in the competitive offshore market. offshore market.
Source: Odfjell Drilling
