Deals Counterparts

SFL Corporation signs drilling contract with unnamed multinational oil and gas company for Hercules semi-submersible rig

Supply Agreement Oil Gas announced Canada Mar 6, 2026
USD170M
Deal Value
Hercules
Project

SFL Corporation signed a $170 million drilling contract with an unnamed multinational oil and gas company for the Hercules semi-submersible rig in Canada, with Odfjell Drilling managing the rig.

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Deal Analysis

SFL Corporation announced a $170 million drilling contract for its Hercules semi-submersible rig in Canada with an unnamed multinational oil and gas company. Odfjell Drilling will manage the Hercules rig under this supply agreement, which was announced on 2026-03-06.
  • SFL Corporation secured a $170 million drilling contract.
  • The Hercules semi-submersible rig will operate in Canada.
  • Odfjell Drilling is managing the rig.
  • Deal announced on 2026-03-06.

Source Intelligence

KEY DETAILS

The rig is a harsh environment semi-submersible rig, managed by Odfjell Drilling. It is a sixth-generation rig of GVA 7500 design, equipped with a tall derrick, dynamic-positioned unit, and a full conventional mooring spread for operations in water depths of 100 to 500 meters. The rig is currently in Norway and will be prepared for mobilization to Canada later in 2026. Quotes: - "SFL Corporation has signed a drilling contract in Canada with an unnamed multinational oil and gas company for the harsh environment semi-submersible rig Hercules, which is managed by Odfjell Drilling." - "Odfjell Drilling will manage the sixt generation rig on behalf of SFL under the contract." - "The rig is a state-of-the-art tall derrick, dynamic-positioned unit of GVA 7500 design and is equipped with a full conventional mooring spread for operations in water depths of 100 to 500 meters." - "The rig is currently in Norway and will be prepared for mobilization to Canada later in 2026."

Deal Size
The estimated contract value is approximately $170 million for the minimum term of 400 days, SFL Corporation said.
Location
SFL Corporation has signed a drilling contract in Canada with an unnamed multinational oil and gas company for the harsh environment semi-submersible rig Hercules
PPA Details
The estimated contract value is approximately $170 million for the minimum term of 400 days, SFL Corporation said.
Announcement
Published Mar 6, 2026 6:25 am ET
Signing
SFL Corporation has signed a drilling contract in Canada
COD
The contract is expected to start in the first quarter of 2027.
PARTIES MENTIONED IN SOURCE
S
SFL Corporation seller

"SFL Corporation has signed a drilling contract in Canada with an unnamed multinational oil and gas company for the harsh environment semi-submersible rig Hercules, which is managed by Odfjell Drilling."

u
unnamed multinational oil and gas company buyer

"SFL Corporation has signed a drilling contract in Canada with an unnamed multinational oil and gas company for the harsh environment semi-submersible rig Hercules, which is managed by Odfjell Drilling."

O
Odfjell Drilling manager

"SFL Corporation has signed a drilling contract in Canada with an unnamed multinational oil and gas company for the harsh environment semi-submersible rig Hercules, which is managed by Odfjell Drilling."

high quality Enriched Mar 6, 2026

Timeline

Announced
Mar 6, 2026
Signed
Closed

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