Odfjell Drilling

🎄 Merry Christmas 🎄 For many, the holidays are a time to be with loved ones - but for our dedicated colleagues working offshore, it’s a season shared with their second family on the rigs. To everyone spending Christmas offshore, we thank you for keeping our operations running smoothly and safely. We would also like to wish all our colleagues, clients, and suppliers a warm, safe, and joyful holiday season 🎅💙 #MerryChristmas #OdfjellDrilling #OffshoreFamily

This weekend, Deepsea Stavanger spudded the first of two appraisal wells in the Smeaheia prospect. The objective of the well is to gather important information and data to obtain a better understanding of the reservoir for future carbon capture and storage (CCS) wells. The scope of work will also include an injection test of the reservoir. This project is an exciting step for Odfjell Drilling as it will provide new opportunities to leverage our 50 years of experience as a key supplier to our clients and assist in developing projects for CO₂ storage offshore.🌊💙 #OdfjellDrilling #ODL #DeepseaStavanger

We are pleased to announced today that we have entered into an amendment agreement with our lenders which will allow for reducing quarterly instalments by approximately USD 4.3 million between Q1 2025 and Q4 2026. The agreement will result in a total of USD 34.2 million now being due of the facility in Q1 2029. See the full details in our press release here: https://lnkd.in/dQmf7tVv If you would like to receive our press releases as they are issued, please email our Investor Relations Office, James Crothers at jchu@odfjelldrilling.com #ODL #odfjelldrilling

During a recent panel discussion at the NORCE Norwegian Research Centre DigiWells on the topic “The well delivery process: Next steps for digitalisation, automation and autonomy”, our Project Manager Digital Operations, Andre Baadsvik, shared his thoughts on some of the challenges and opportunities for implementing new technologies. A drilling rig is an advanced well factory. The uptake of new technology poses both opportunities and risks. Ensuring proper involvement of end-users and management is crucial for ownership and success of any new technology. The question we must ask is: as the famous saying goes, will it make the boat go faster? Digitalisation and new technology introduce a change – but is it purposeful and does it lead to safe and efficient operations, and does it have a positive business case? 📈 Some specific challenges we face are: 🔗 Our industry is often siloed, with multiple vendors contributing to the end-goal. As an industry, we need to adopt a holistic view to remove bottlenecks by providing interoperability. 🤖 Before the automation step is fully taken, how can we pave the way for autonomous operations? 🌦️On-the-fly planning has the potential to remove bottlenecks. However, we need to take a holistic approach that includes logistics, competence, maintenance, equipment, and environmental considerations (weather). We acknowledge these challenges and have initiatives on all these to make a safer and more efficient operation for our clients – making sure that the industry is moving forward. 📸 credit NORCE #OdfjellDrilling

Great to see our Company's outlook raised to positive by Moody's Ratings. "the positive outlook reflects our expectation that ODL’s key credit metrics will strengthen to levels commensurate with a higher rating in the next 12-18 months through rising earnings and cashflows”. #ODL #OdfjellDrilling #Moody's #OR3. https://lnkd.in/gh8anV3H

Recently, we invited all the women in Odfjell Drilling, along with management, to our Bergen office to review our 2024 achievements, survey results, and future goals. So why did we launch #WomenInDrilling? 🤔 To achieve the WISTA Norway #40by30 pledge, we need a strong network that: 💡 Raises awareness and reduces gender bias across our organization 📈Advises management and enhances our action plans 💡 Empowers our current and future female employees by creating a supportive environment #WomenInDrilling #DiversityAndInclusion #OdfjellDrilling

We are pleased to note that our managed rig, Deepsea Bollsta, has been awarded a significant contract by Equinor. The contract is set to commence in the second half of 2025 and has an estimated firm duration of two years, with five additional one-year optional periods. 💬 Our CEO Kjetil Gjersdal comments: “This contract is a testament to the hard work and dedication of our team, as well as the strong relationship we have built with Equinor and Northern Ocean Ltd. With this addition, Odfjell Drilling currently has four rigs on contract with Equinor, including Deepsea Atlantic, Deepsea Aberdeen, and Deepsea Stavanger. We are thrilled to expand our partnership with the addition of Deepsea Bollsta and look forward to achieving new milestones together, pushing the boundaries of what is possible in offshore drilling.” Our team will collaborate with Northern Ocean Ltd.(NOL) to ensure a seamless and efficient transition of Deepsea Bollsta from Namibia to Norway, maintaining our commitment to operational excellence and safety.🌊 #OdfjellDrilling #ODL #DeepseaBollsta #Equinor #ContractAward #OffshoreDrilling #EnergySector #Norway

Two weeks ago, we had the pleasure of hosting 15 maritime trainee students on our rig, Deepsea Yantai, which is currently at CCB for its 5-year SPS. 🌊 These talented students are part of the Maritime Trainee program, which combines hands-on experience with leading maritime companies and academic modules in Norway and abroad. 🌍 The program is all about shaping the future leaders of the maritime industry, and since 2005 we have welcomed approximately 20 maritime trainees into our Odfjell Drilling family so far.

Earlier this week, our COO, Jakob Korsgaard, spoke at #Borekonferansen2024 in Stavanger on this year’s theme of #collaboration, highlighting its importance in enhancing performance, safety, and efficiency in our drilling operations. Jakob emphasised that collaboration has been key to Odfjell Drilling’s success over its 50+ years of operation, enabling us to find new and innovative solutions. Great collaborative efforts are ongoing within the automation of our drill floor operations. He noted that a similar mindset is crucial to achieving emission reduction ambitions across the entire maritime industry. There is a need for operators, drilling contractors, and equipment manufacturers to find common solutions to establish the necessary infrastructure to achieve the 50 percent emission reduction target on the NCS by 2030. 📷 by Offshoremediagroup #OdfjellDrilling

Our Q3 results are out! 💙 The third quarter of 2024 marked a milestone for us as our team completed the most challenging Special Periodic Survey and upgrade project in our history on the Deepsea Atlantic - on time and within budget. 💬 CEO Kjetil Gjersdal comments: “Achieving a stable EBITDA during a quarter with a complex upgrade project demonstrates the strong performance across our fleet. This also points to the higher earnings we anticipate as several rigs transition to higher day rates.” 👉 Read the full report here: https://lnkd.in/d9jVQT_S #OdfjellDrilling #Q3Results