Northern Ocean has announced a contract award for Deepsea Bollsta with a subsidiary of a major operator for work in Namibia. The contract duration is for one well estimated at 63 days and will likely commence in the fourth quarter of 2024.<\/p>\n\n\n\n
After successfully transiting from Norway to Namibia, the Deepsea Bollsta has been operating within the Orange Basin in Namibia for 18 months and continues to demonstrate the efficiencies of utilizing a sixth generation semisubmersible in this region. NOL has established itself in West Africa with Odfjell Drilling Ltd. managing its two high-specification rigs and remains committed to securing further backlog with premier clients globally.<\/p>\n\n\n\n
Before the commencement of the new contract, the Deepsea Bollsta will undertake a five-year class survey and there will also likely be a short idle period prior to commencement.<\/p>\n\n\n\n
With the new contract award for Deepsea Bollsta and the current drilling contract for the Deepsea Mira, the Company has an estimated aggregate revenue backlog between $80 million and $95 million, excluding bonuses, reimbursables and undeclared options.<\/p>\n\n\n\n
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