SFL secures $170M Canadian drilling contract for harsh-environment rig
According to Drilling Contractor, SFL Corp has signed a $170 million drilling contract with a multinational oil company for the harsh-environment semisubmersible rig Hercules in Canada. The 400-day minimum term contract is expected to begin in Q1 2027, with the rig currently in Norway preparing for mobilization to Canada later this year.
Odfjell Drilling will manage the rig operations on behalf of SFL under the contract terms.
What It Means for Subcontractors
- Marine transport and logistics companies will see opportunities moving the rig from Norway to Canadian waters and supporting ongoing operations
- Catering, waste management, and supply boat services will be needed for the 400-day minimum campaign in harsh Canadian offshore conditions
- Local fabrication and maintenance shops could benefit from rig preparation work and ongoing support services during the extended drilling program
