Odfjell Drilling to Sell Deepsea Delta Rig to Songa Offshore

Norway-based Odfjell Drilling has entered into an agreement with Songa Offshore to sell the semi-submersible Deepsea Delta drilling rig for $428.5 million.

Deepsea Delta will continue to be operated by Odfjell Drilling under a management and lease agreement with Songa Offshore until 2012. The rig is currently on contract with StatoilHydro until February 2009 and has thereafter been fixed for three years to Revus Energy and Det norske oljeselskap (DNO).

Odfjell Offshore, a company within the Odfjell Drilling group, will have the operational responsibility for the rig throughout these contracts.

Ketil Lenning, Odfjell Drilling’s CEO, said: “Odfjell Drilling welcomes this opportunity to divest the Deepsea Delta as part of the company’s strategy to renew its fleet, and being able to continue to render our services to StatoilHydro and Revus-DNO in collaboration with Songa Offshore as contractor for the continued operation of Deepsea Delta.”