Odfjell Drilling
Encyclopedia
Odfjell Drilling is a privately-owned international drilling, well service and engineering company with 3000 employees. The company has nearly 40 years experience of international drilling operations and has carried out drilling operations in the North Sea and in most parts of the world. Odfjell Drilling Ltd. is the holding company of the Odfjell Drilling group. The company was listed on the Oslo Stock Exchange
and registered on Bermuda
. It is controlled by the Odfjell family.
. In 1973 the company was formerly established as Odfjell Drilling & Consulting Company AS. In 1974 the first rigs were delivered, and started service for Conoco and Saga Petroleum
. The first production drilling contract was awarded by Statoil
on the Statfjord oil field
in 1979. In 1984 Odfjell Drilling started with operation on the British
sector with a semi-submersible
rig for Hamilton Brothers Oil & Gas. Since the mid-1990s Odfjell has made a strategic decision to concentrate on the North Sea
market, resulting in the acquisition of Norwegian Drilling Management and the creation of the joint venture
Deutag Norge Drilling with Deutsche Tiefbohr.
In 1996 the subsidiary company Deepsea ASA was listed on the Oslo Stock Exchange, but was delisted a year later after the acquisition by Marine Drilling Marine Drilling Companies (now part of Ensco plc). The main asset of the company was the bare-deck hull of the under-construction Deepsea Stavanger drilling rig. The company was renamed Marine Drilling ASA and the bare-deck hull was renamed and used for building MARINE 700 drilling rig.
In 2004 Odfjel and Odfjell Drilling created Odfjell Invest
to order and operate further rigs. The company operates two semi-submersible rigs on behalf of Odfjell Drilling, with delivery in October 2008 and June 2010. The company is based in Hamilton, Bermuda
. The company was listed at the Oslo Stock Exchange but was delisted in 2009.
in South Korea
in 2009 and 2010, respectively. The drillship Deepsea Metro I was delivered by Hyundai Heavy Industries
in June 2011. The second ultra deepwater drillship Deepsea Metro II will be delivered in Q4 2011.
Odfjell Drilling consists of three business units:
The company is present in 12 countries and operates in more than 20. Odfjell Drilling is located in Norway (Bergen, Stavanger, Stjørdal), UK (Aberdeen), the Netherlands, Romania Brazil, Tanzania, Angola, United Arab Emirates (Dubai, Abu Dhabi), Saudi Arabia, Turkmenistan, the Philippines and South Korea,.
Oslo Stock Exchange
The Oslo Stock Exchange serves as the main market for trading in the shares of Norwegian companies. It opens at 9:00am and closes 5:30pm local time...
and registered on Bermuda
Bermuda
Bermuda is a British overseas territory in the North Atlantic Ocean. Located off the east coast of the United States, its nearest landmass is Cape Hatteras, North Carolina, about to the west-northwest. It is about south of Halifax, Nova Scotia, Canada, and northeast of Miami, Florida...
. It is controlled by the Odfjell family.
History
The company was established in 1969 when Odfjell took orders of three drilling rigs delivered from AkerAker ASA
Aker ASA is a Norwegian holding company engaged in offshore fishing, construction and engineering. The company is listed on Oslo Stock Exchange and is controlled by Kjell Inge Røkke with 66.66% ownership through TRG Holding...
. In 1973 the company was formerly established as Odfjell Drilling & Consulting Company AS. In 1974 the first rigs were delivered, and started service for Conoco and Saga Petroleum
Saga Petroleum
Saga Petroleum was a Norwegian upstream petroleum company established in 1972 that was acquired by Norsk Hydro in 1999. Since October 2007 it is a part of Statoil. The company was the only fully private oil company in Norway. It had partial ownership in 60 oil field licenses and was operator of 18...
. The first production drilling contract was awarded by Statoil
Statoil
Statoil ASA is a Norwegian petroleum company established in 1972. It merged with Norsk Hydro in 2007 and was known as StatoilHydro until 2009, when the name was changed back to Statoil ASA. The brand Statoil was retained as a chain of fuel stations owned by StatoilHydro...
on the Statfjord oil field
Statfjord oil field
The Statfjord oil field is an enormous oil and gas field in the Norwegian sector of the North Sea operated by Statoil.It is a trans-median field crossing the Norwegian and UK North Sea Boundary with approximately 15% being in the UK Continental Shelf waters. At peak production it produced over of...
in 1979. In 1984 Odfjell Drilling started with operation on the British
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
sector with a semi-submersible
Semi-submersible
A semi-submersible is a specialised marine vessel with good stability and seakeeping characteristics. The semi-submersible vessel design is commonly used in a number of specific offshore roles such as for offshore drilling rigs, safety vessels, oil production platforms and heavy lift cranes.The...
rig for Hamilton Brothers Oil & Gas. Since the mid-1990s Odfjell has made a strategic decision to concentrate on the North Sea
North Sea
In the southwest, beyond the Straits of Dover, the North Sea becomes the English Channel connecting to the Atlantic Ocean. In the east, it connects to the Baltic Sea via the Skagerrak and Kattegat, narrow straits that separate Denmark from Norway and Sweden respectively...
market, resulting in the acquisition of Norwegian Drilling Management and the creation of the joint venture
Joint venture
A joint venture is a business agreement in which parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets...
Deutag Norge Drilling with Deutsche Tiefbohr.
In 1996 the subsidiary company Deepsea ASA was listed on the Oslo Stock Exchange, but was delisted a year later after the acquisition by Marine Drilling Marine Drilling Companies (now part of Ensco plc). The main asset of the company was the bare-deck hull of the under-construction Deepsea Stavanger drilling rig. The company was renamed Marine Drilling ASA and the bare-deck hull was renamed and used for building MARINE 700 drilling rig.
In 2004 Odfjel and Odfjell Drilling created Odfjell Invest
Odfjell Invest
Odfjell Invest is a drilling rig operator company controlled by Odfjell and Odfjell Drilling. The company operates two semi-submersible rigs on behalf of Odfjell Drilling, with delivery in October 2008 and June 2010. The company is based in Hamilton, Bermuda....
to order and operate further rigs. The company operates two semi-submersible rigs on behalf of Odfjell Drilling, with delivery in October 2008 and June 2010. The company is based in Hamilton, Bermuda
Hamilton, Bermuda
Hamilton is the capital of the British Overseas Territory of Bermuda. It is the territory's financial centre and a major port and tourist destination.-Geography:...
. The company was listed at the Oslo Stock Exchange but was delisted in 2009.
Operations
The company has contracts for 23 fixed and mobile units in the North Sea and internationally. The company's new build programme includes two ultra deepwater and harsh environment drilling rigs and two ultra deepwater drillships. The ultra deepwater and harsh environment drilling rigs Deepsea Atlantic and Deepsea Stavanger were delivered from Daewoo Shipbuilding & Marine EngineeringDaewoo Shipbuilding & Marine Engineering
Daewoo Shipbuilding & Marine Engineering Co., Ltd ' is the second largest shipbuilder in the world and one of the "Big Three" shipbuilders of South Korea.On 21 February 2011, the A. P...
in South Korea
South Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
in 2009 and 2010, respectively. The drillship Deepsea Metro I was delivered by Hyundai Heavy Industries
Hyundai Heavy Industries
Hyundai Heavy Industries Co., Ltd. is the world's largest shipbuilding company, headquartered in Ulsan, South Korea. The company is a subsidiary of Hyundai Heavy Industries Group...
in June 2011. The second ultra deepwater drillship Deepsea Metro II will be delivered in Q4 2011.
Odfjell Drilling consists of three business units:
- Mobile Offshore Drilling Units
- Odfjell Drilling & Technology
- Odfjell Well Services
The company is present in 12 countries and operates in more than 20. Odfjell Drilling is located in Norway (Bergen, Stavanger, Stjørdal), UK (Aberdeen), the Netherlands, Romania Brazil, Tanzania, Angola, United Arab Emirates (Dubai, Abu Dhabi), Saudi Arabia, Turkmenistan, the Philippines and South Korea,.