Equinor has exercised three new wells for Deepsea Atlantic, the Company announced on Tuesday (Aug18).
The wells have been exercised under the Continued Optionality mechanism in the contract entered into between the parties in May 2018, as part of the overall Master Frame Agreement.
The work shall commence after the completion of the current scope estimated to be in Q4 2020.
The commercial terms are materially the same as for the recently announced Johan Sverdrup Phase 2 letter of intent that is set to commence in Q1 2022.
Source: Odfjell Drilling