The Hercules semi-submersible has secured a new offshore drilling contract in Canada, giving SFL Corporation a backlog of about $170 million for a minimum 400-day term.
The program is due to start in the first quarter of 2027. The customer was not named, but SFL Corporation identified it as a large multinational oil and gas company with investment-grade standing.
The rig is now in Norway and will undergo preparations for a move to Canada later this year ahead of the campaign.
Built in 2008, Hercules is a sixth-generation harsh-environment and deepwater semi-submersible based on the GVA 7500 design. The unit was built by DSME in South Korea and has accommodation for 180 people. Its operating water depth reaches about 3,048.0 m, while the maximum drilling depth is about 10,668.0 m.
Under the Canadian contract, Odfjell Drilling will continue to manage the rig for SFL Corporation. The Norwegian drilling contractor took over that role in May 2022, replacing Seadrill.
Ole B. Hjertaker, CEO of SFL Management, said the company was pleased to secure fresh work for Hercules on Canada’s East Coast, where the rig has operated several times before. He added that the contract supports the rig’s position for future drilling campaigns as demand for harsh-environment, deepwater-capable semi-submersibles remains strong toward the end of the decade.
