Fossil Energy – Drilling
SFL announced that it has signed a drilling contract in Canada with a large, investment grade multinational oil and gas company for the harsh environment semi-submersible rig Hercules.
The estimated contract value is approximately $170 million for the minimum term of 400 days.
The contract is expected to commence in the first quarter of 2027. The rig is currently in Norway and will be prepared for mobilization to Canada later this year. Odfjell Drilling will manage the rig on behalf of SFL under the contract.
Ole B. Hjertaker, CEO of SFL Management AS, said in a comment: “We are very pleased to secure a new attractive contract for Hercules on the East Coast of Canada, where the rig has worked multiple times before. We see significant demand for harsh environment, deepwater capable semi-submersibles towards the end of the decade and believe this contract should position the rig attractively for prospective drilling campaigns.”
