Global energy giant TotalEnergies has exercised a contract extension option with Northern Ocean, extending the deployment of the Deepsea Mira semi-submersible rig in West Africa for up to three months.
Upstream reports that the extension adds 65 to 93 days to the firm term of the contract, translating to an additional revenue backlog of approximately $27 million to $38 million.
This increase raises Northern Ocean’s firm backlog to an impressive $515 million to $545 million.
The Deepsea Mira, built-in 2018 by South Korea’s Hyundai Heavy Industries, is a semi-submersible rig designed to operate in water depths of up to 10,000 feet. It is a 6th-generation, dynamically positioned, anchor-moored semi-submersible rig of Moss Maritime CS60E design. Engineered for both benign and harsh environments, the rig can operate at depths of up to 3,000 meters, making it a versatile asset for deepwater exploration.
Owned by Northern Ocean and operated by the Norwegian firm Odfjell Drilling, the rig has proven its capabilities in challenging conditions.
“The Deepsea Mira, with Odfjell Drilling’s services, is one of the most capable rigs for year-round operations in harsh weather conditions,” noted Arne Jacobsen, Chief Executive Officer of Northern Ocean.
Northern Ocean expresses optimism
The contract extension, industry watchers say, demonstrates the exceptional technological capabilities of the Deepsea Mira, reaffirming its status as a cutting-edge asset in offshore drilling operations. Beyond its technical merits, the extension serves as a testament to the robust and evolving partnership between Northern Ocean and TotalEnergies, two industry leaders committed to advancing energy exploration in challenging environments.
Arne Jacobsen, Chief Executive Officer of Northern Ocean, expressed enthusiasm about the development, emphasizing its broader implications. “Northern Ocean is pleased with this extension, as it not only solidifies our good relationship with TotalEnergies but also demonstrates the reliability and advanced capabilities of the Deepsea Mira,” he stated.
Jacobsen further noted that the collaboration goes beyond contractual obligations, representing a shared vision for innovation and operational excellence in the energy sector. “This partnership demonstrates how state-of-the-art technology, coupled with effective management, can deliver exceptional results even in the harshest conditions,” he added.
The contract extension also reflects TotalEnergies’ confidence in Northern Ocean’s ability to deliver high-performance solutions, bolstered by Odfjell Drilling’s proven expertise in managing complex offshore operations.
A Growing Backlog Amid Industry Demand
Over the past four months, Northern Ocean has significantly bolstered its contract backlog, adding approximately $500 million in new agreements.
The latest extension highlights the growing demand for advanced offshore drilling solutions as energy companies expand exploration efforts in key regions.
