Odfjell Well Services Nets Major Contracts

Odfjell Drilling says that its well service division, Odfjell Well Services, has entered into a new contract with Statoil for tubular running services and rental services on the Norwegian continental shelf. During the last six months Odfjell Well Services has secured new contracts with a total estimated turnover of USD 250 million.

Statoil has awarded Odfjell Well Services a frame agreement for Tubular running services with a duration of six years from January 2015 plus 2x2 years options. The agreement covers Tubular running services on a selection of Statoil’s installations on the Norwegian continental shelf.

"These new contracts are important elements in developing our Well Services business area. We are able to maintain sales and activity level in a tougher market.  Our main ambition is to provide Statoil and other clients with safe and cost efficient solutions in Norway and other markets," says Simen Lieungh, CEO of Odfjell Drilling.

During the last six months Odfjell Well Services has won several new contracts and prolonged existing contracts in Norway, Middle East and the Far East of a total estimated turnover of USD 250 million including the Statoil contract. The contracts encompass tubular running services, tool rental and the wellbore cleanup.

Odfjell adds that it provides tool rental services, tubular running services and well intervention services in more than 20 countries in Europe, Middle East, Africa and Asia.