Northern Ocean Secures Contract for Deepsea Mira Rig in Namibia

John Fredriksen-controlled Northern Ocean, a semisub spin-off of Northern Drilling, has secured a contract for one of its rigs with a subsidiary of Rhino Resources. The deal involves the 2018-built Deepsea Mira and operations in Namibia set to commence in mid-July 2025.

The contract includes one firm well for Rhino, another firm well for a different operator, and three optional wells. With an estimated firm duration of 112 days, the contract is projected to have a value of around $40 million. This agreement will increase Northern Ocean’s firm backlog to between $395 million and $412 million.

The Deepsea Mira rig will be responsible for drilling the Volans-1X exploration well, marking the third successive well to be drilled on PEL85 by Rhino and its partners, including NAMCOR, Korres Investments, and Azule Energy.

Arne Jacobsen, CEO of Northern Ocean, expressed his satisfaction with the new contract, stating, “This agreement will ensure Deepsea Mira continues its operations in Namibia, following its successful campaign with Total. Northern Ocean, in collaboration with its operator Odfjell Drilling, remains the only drilling contractor with ongoing operations and a continuous presence in Namibia over the past two years.”