France’s TotalEnergies Extends Contract for Deepsea Mira Rig in Africa

France’s energy giant TotalEnergies has extended its contract with the Deepsea Mira rig, owned by Northern Ocean (NOL) and managed by Odfjell Drilling, for operations in Africa. The rig has been working with TotalEnergies under a multi-country drilling contract since December 2022.

Initially employed to appraise the Venus light oil discovery offshore Namibia, the Deepsea Mira rig has received multiple contract extensions from TotalEnergies. The latest extension adds approximately 65 to 93 days to the firm term of the contract, bringing in an additional revenue backlog of $27 to $38 million for NOL.

Arne Jacobsen, CEO of NOL, expressed satisfaction with the contract extension, highlighting the strong relationship with TotalEnergies and the rig’s capabilities in harsh weather conditions. The Deepsea Mira rig, a sixth-generation semi-submersible, is designed for year-round operations in water depths of up to 3,000 meters.

Exploration Resumes in Namibia

TotalEnergies has resumed exploration drilling on Block 2913B in the Orange Basin off the coast of Namibia. The Tamboti-1X exploration well, located north of the Venus accumulation, aims to target a 1 billion barrel prospect near the Mangetti-1X discovery.

The Deepsea Mira rig, managed by Odfjell Drilling, continues to demonstrate its efficiency and reliability in supporting TotalEnergies’ exploration activities in Africa. With a contract backlog of approximately $515 to $545 million, NOL looks forward to further collaborations with TotalEnergies in the region.