Chevron Corporation has secured a 63-day contract with Northern Ocean, a prominent offshore drilling service provider, for the Deepsea Bollsta semi-submersible rig.
The rig will be deployed in Namibia’s Orange Basin for a high-impact exploration campaign commencing in the fourth quarter of 2024.
Chevron confirmed its plans to drill an exploratory well within Block 2813B, governed by Petroleum Exploration Licence (PEL) 90.
This block lies north of TotalEnergies SE’s (TTE) significant Venus oil and gas discovery.
According to Northern Ocean, the Deepsea Bollsta, renowned for its capabilities in ultra-deepwater environments, aligns with the challenging conditions of the Orange Basin.
Its advanced technology ensures precise and efficient drilling, minimising risks and maximising exploration success.
“Northern Ocean Ltd. is pleased to announce a contract award for Deepsea Bollsta with a subsidiary of a major operator for work in Namibia. The contract duration is for one well estimated at 63 days and will likely commence in the fourth quarter of 2024,” said the Oslo Stock Exchange-listed company.
The company said the rig has been functioning within the Orange Basin for 18 months, having been previously contracted by Shell Namibia Upstream B.V., transited from Norway to Namibia in December 2022.
This period of operation has served to showcase the effectiveness of deploying a sixth-generation semi-submersible rig in the region.
“Before the commencement of the new contract, the Deepsea Bollsta will undertake a five-year class survey and there will also likely be a short idle period prior to commencement,” the report said.
The Orange Basin, a promising frontier basin, has attracted major oil companies seeking new reserves. Chevron’s exploration underscores the basin’s potential for substantial hydrocarbon discoveries.
The basin’s geology, combined with recent successes by other energy giants, makes it a prime target for further exploration.
The proximity of Block 2813B to TTE’s Venus discovery adds further significance. The Venus exploration, one of the largest in recent history, has fueled increased interest and investment in the Orange Basin.
Chevron’s exploration efforts in a neighboring block solidify the basin’s potential for substantial oil and gas reserves, offering a promising outlook for future energy production.
The Bollsta rig is managed by Odfjell Drilling following an agreement with Northern Ocean in December 2021.
