Maritime infrastructure company SFL has secured a drilling contract valued at around $170m from a multinational oil and gas operator for the use of the Hercules semi-submersible rig in Canada.
The agreement, which covers a minimum term of 400 days, is scheduled to begin in the first quarter of 2027.
SFL will prepare the Hercules, currently located in Norway, for mobilisation to Canadian waters later this year. Odfjell Drilling will manage the rig on behalf of SFL as part of the contract.
The Hercules is a sixth-generation semi-submersible unit designed for deep-water and harsh environment operations. It features a tall derrick and dynamic positioning (DP), based on the GVA 7500 design.
The vessel is equipped with a full conventional mooring spread suitable for water depths ranging from 100 to 500m.
It has a loading capacity of 5,200t under all operating conditions, which reduces reliance on supply vessels and enables operations in challenging locations such as the Barents Sea during winter.
The unit is also designed to meet winterisation-class standards to support work in Arctic conditions.
The rig’s drilling system includes a high specification Aker MH derrick that allows for offline DP stand and casing building activities. The Hercules is designed for global operations and is particularly suited for exploration and development drilling in harsh environments.
SFL Management CEO Ole Hjertaker said: “We are very pleased to secure a new attractive contract for Hercules on the east coast of Canada, where the rig has worked multiple times before.
“We see significant demand for harsh environment, deep-water capable semi-submersibles towards the end of the decade and believe this contract should position the rig attractively for prospective drilling campaigns.”
SFL’s fleet consists of tankers, container ships, bulkers, car carriers and offshore rigs.
“SFL signs $170m Canadian drilling contract for Hercules rig” was originally created and published by Offshore Technology, a GlobalData owned brand.
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