Odfjell Drilling Seals Three-Year Rig Deal with Vår Energi
November 10, 2026
Odfjell Drilling has formally signed a three-year drilling contract with Vår Energi for its Deepsea Bergen semi-submersible rig, securing firm employment for the unit until early 2031.
The agreement follows a letter of award announced on September 10, 2026, when the firm contract backlog was estimated at approximately $518 million.
Under the signed contract, Deepsea Bergen will begin operations for Vår Energi in early 2028, following completion of its existing contract, Odfjell Drilling announced on November 10.
The agreement also includes four one-year priced options, which could extend the rig's contracted operations into early 2035 if exercised.
With the formal signing, Deepsea Bergen is now fully booked until early 2031.
The previously announced estimated firm backlog of $518 million includes mobilization fees but excludes annual escalation, integrated services, performance bonuses and fuel incentives.
Delivered in 2019, Deepsea Bergen is an enhanced and extended CS 60 E harsh-environment semi-submersible drilling rig with a maximum drilling capacity of 12,000 metres and accommodation for 180 personnel.
The rig features environmental improvements including power units equipped with SCR technology and is configured for closed-bus operations.
The original letter of award came less than 12 months after Odfjell Drilling acquired Deepsea Bergen, securing a long-term drilling program for the unit.
