Odfjell Drilling Ltd. (OD3)

Profile

https://www.odfjelldrilling.com

Odfjell Drilling Ltd. is a leading international offshore drilling contractor specializing in owning and operating advanced semi-submersible rigs designed for harsh environments. The company provides contract drilling services to the oil and gas industry, focusing on challenging regions such as the North Sea, Barents Sea, West of Shetland, Namibia, and deepwater areas off South Africa. Operating through Own Fleet and External Fleet segments, it manages a modern fleet of eight 6th-generation rigs—five owned and three under management—with an average age of 10.5 years, alongside offering management services including operational oversight, regulatory compliance, marketing, and contract negotiations. Founded in 1973 with maritime roots to 1914, Odfjell Drilling Ltd. employs over 1,600 people and emphasizes safety, quality, health, security, environment (QHSSE), and sustainability, including goals like zero-emission drilling. Listed on the Oslo Stock Exchange since 2013, it reorganized in 2022 to concentrate on core drilling after divesting well services and engineering segments, maintaining a strong track record of high utilization and earnings resilience. Headquartered in Aberdeen, UK, as a subsidiary of Odfjell Partners Holding Ltd., it plays a vital role in the offshore drilling sector by delivering reliable operations for major producers amid tight rig supply in key markets like the Norwegian Continental Shelf.