“Deepsea Mira,” the sole remaining semi-submersible drilling rig owned by the Norwegian rig owner Northern Ocean, has secured a new charter contract with Shell; this means the rig will return to operation in April 2027 following a prolonged period of inactivity.
Specifically, Northern Ocean has signed a charter agreement with a Shell subsidiary for the “Deepsea Mira.” The contract entails a firm period of approximately 150 days—inclusive of mobilization and demobilization costs—valued at around $70 million, with operations covering Trinidad and Tobago and the broader Caribbean region. The agreement includes a one-year extension option; if exercised, the total contract value could reach approximately $226 million.
The securing of this latest charter contract marks the continuation of the partnership between Northern Ocean and Shell. Earlier this year, the “Deepsea Mira” operated in Namibia; the project was originally scheduled to last approximately 45 days with a contract value of around $16 million. However, the rig’s actual operations in Namibian waters extended to nearly three months, contributing approximately $31 million to Northern Ocean’s second-quarter revenue. Shell did not exercise its option for a second well at that time.
Since then, the “Deepsea Mira” has remained moored at Walvis Bay. In late August, Northern Ocean announced that several projects originally scheduled for the second half of this year had either been cancelled or postponed to 2027, pushing the rig’s expected return to operations to 2027.
By the end of 2025, Northern Ocean had sold the “Deepsea Bollsta”—a sister vessel to the “Deepsea Mira”—to its operating partner, Odfjell Drilling, for $480 million. Following the completion of this transaction, Northern Ocean became the owner of a single drilling rig.
Data indicates that the “Deepsea Mira” is a sixth-generation, harsh-environment semi-submersible drilling rig delivered by HD Hyundai Heavy Industries in 2018. The rig is equipped with a DP3 dynamic positioning system and a 12-point mooring system; it has a maximum operating water depth of 3,250 meters, a maximum drilling depth of 12,000 meters, and a variable deck load capacity of approximately 7,000 tonnes.