Odfjell secures $518m contract for Deepsea Bergen from Vår Energi

Odfjell secures $518m contract for Deepsea Bergen from Vår Energi

Salong Debbarma

Thu, September 10, 2026 at 6:10 PM GMT+3 2 min read

• ODL.OL +2.68%

Norwegian deepwater driller Odfjell Drilling has received a letter of award (LoA) from Vår Energi for the deployment of the Deepsea Bergen rig, with an estimated contract value of $518m (Nkr4.81bn).

The three-year award is due to begin in early 2028 after the unit completes its current contract.

The value includes mobilisation fees but excludes annual escalation, integrated services, performance bonuses and fuel incentives.

The award extends Deepsea Bergen's firm contract backlog to the first quarter of 2031 (Q1 2031).

Odfjell Drilling CEO Kjetil Gjersdal said: "We are delighted to have received this letter of award and to be partnering with Vår Energi with the Deepsea Bergen.

"At Odfjell Drilling, we like to maintain close, long-term relationships with our clients and the terms included in this LoA allow both Vår Energi and Odfjell Drilling to invest in a long-term partnership arrangement, which will enable Deepsea Bergen to deliver the safest and most efficient drilling possible.

"Separately, we are also very pleased to have secured a long-term contract award for the Deepsea Bergen less than 12 months after our acquisition of the unit. The Deepsea Bergen has confirmed its capability to deliver world-class operational performances, and we look forward to seeing the unit working with Vår Energi to achieve their exciting business objectives.

"With backlog on the unit now extending until at least Q1 2031, we are very excited about what the future holds for the rig and her crew."

The Deepsea Bergen rig is built to the CS 60 E harsh environment specification.

Its equipment includes selective catalytic reduction power units described as nitrogen oxides-friendly and environmentally improved, along with a configuration for closed-bus, or ER, operations.

The rig has a conventional mooring spread for water depths from 70m to 500m. Its loading capacity is 7,500t in all operating conditions, which the company says reduces the need for supply vessels.

It has also carried out operations in the Barents Sea during winter and has a winterisation class notation for work in Arctic conditions.

The drilling system includes an NOV derrick with capacity for offline drill pipe stand and casing-building activities. The unit is configured for worldwide operations and for exploration and development drilling in harsh environments.

In December 2025, Odfjell Drilling completed the acquisition of the Deepsea Bollsta drilling rig, along with the novation of the rig's drilling contract with Norwegian oil and gas company Equinor, for a firm period until early 2028, with options for five one-year extensions.

"Odfjell secures $518m contract for Deepsea Bergen from Vår Energi" was originally created and published by Offshore Technology, a GlobalData owned brand.