SFL Corporation Ltd. announced that it has signed a drilling contract in Canada with a subsidiary of Equinor ASA for the harsh environment semi-submersible rig Hercules. The estimated contract value is approximately $100 million. The contract is for one well plus one optional well, and is expected to commence in the second quarter of 2024.

The duration for the firm contract period is approximately 200 days including transit to and from Canada. Odfjell Drilling will manage the rig on behalf of SFL under the contract. Hercules is currently drilling for ExxonMobil in Canada before it will transit to Namibia for a contract with Galp Energia expected to commence in the fourth quarter of 2023.