Equinor issued a letter of intent to Odfjell Drilling and its semisubmersible rig Deepsea Aberdeen for the drilling of 15 wells for the Breidablikk Group, which recently submitted the plan for development and operation. Drilling is scheduled to start in spring 2022 with the campaign estimated to last through autumn 2024.
Estimated field recovery is around 200 million bbl, and investments will be around $2 billion (NOK 18.6 billion).
The agreement includes options for drilling an additional nine wells before continuous optionality applies. The estimated value of the fixed part of the agreement is $290 million.
The license partners in Breidablikk are Equinor (operator), Petoro AS, Vår Energi AS, and ConocoPhillips Skandinavia AS.