Petrobras has extended the charter contract for the BassDrill Beta by an additional 386 days with options.

Petrobras has exercised their right to utilize a clause in the contract to extend the primary term of the contract duration by 60 days while retaining their right to a further extension(s) utilizing the same clause.  This extends the contract term to the end of June 2018.

Petrobras has exercised their right to utilize a clause in the charter contract for BassDrill Beta which permits extending the primary term of the contract by the sum of accumulated downtime incurred during the original 1500-day term. This extends the term of the contract to the end of August, 2018.

Per the attachment, a notice has today been sent the Company’s shareholders informing that the 2017 Annual General Meeting («AGM») of the Company will be held at Canon’s Court, 22 Victoria Street, Hamilton HM 12, Bermuda, on 21 September 2017 at 3:00 pm (CET).

The proposed agenda comprises solely the ordinary business of the AGM.

Participation by way of proxy only: Shareholders of the Company are asked to submit their proxies for participation to the Company’s registrar in DNB Bank ASA no later than 12:00 CET, 18 September 2017, as further instructed in the attached notice of the AGM.


Semi Tender Beta ,under contract with Petrobras, has commenced it’s relocation back to Petrobras’s P61 TLP following a hibernation period. Once moored and connected to the TLP there will be a period of time to undertake inspection and reactivation work. After which the Beta is set to resume drilling operations.

Mr. Eriksen has 20 years of extensive international experience within the offshore and shipping industries. From 2008 until 2017 he held various roles with Frigstad Offshore, the last 8 years as CEO. Prior to that he spent more than 10 years in several positions with the A.P. Moller-Maersk Group at several of their international locations, most of the time with Maersk Contractors. From 1997 to 1999 he was with Maersk Line, completing a graduate management trainee programme at Maersk Shipping Academy. Mr. Eriksen was educated at NMH/BI Norwegian School of Management, the University of Oslo, as well as the Officers’ Training School of the Norwegian Army.