Northern Ocean Secures $40 Million Drilling Contract for Namibian Waters
Offshore drilling contractor Northern Ocean has landed a significant contract with Rhino Resources subsidiary for the DeepSea Mira semi-submersible drilling rig, marking continued investment in Namibian offshore exploration. The deal, worth approximately $40 million, will see operations commence in mid-July 2025.
The contract encompasses one firm well for Rhino Resources, one firm well for an additional operator, and three optional wells, with an estimated firm duration of 112 days. Rhino will deploy the rig for drilling the Volans-1X exploration well, representing the third consecutive well on the PEL85 license alongside partners NAMCOR, Korres Investments, and Azule Energy.
The DeepSea Mira, built in 2019, represents sixth-generation technology with dynamic positioning capabilities and anchor-mooring systems. Designed for both benign and harsh environments, the rig can operate in water depths up to 3,000 meters and follows the advanced Moss Maritime CS60E design.
Travis Smithard, CEO of Rhino Resources, emphasized the strategic value of contracting an in-country rig, stating this demonstrates “our commitment to Namibian upliftment and our continued investment in the development of Namibia’s upstream capabilities.”
Arne Jacobsen, Chief Executive Officer of Northern Ocean, highlighted that the company remains “the only drilling contractor with ongoing operations and a continuous presence in Namibia over the past two years,” underlining their substantial local content development supported by the Namibian government.
Source: namibiaoilandgas.com
