Annual Report for 2024

“In its 52nd year, Odfjell Drilling has secured a leading position in the market, with excellent and increasing revenue visibility ahead of it. Our rigs are in prime condition, our people are engaged and we as a business are very excited for the future.”

– Board of Odfjell Drilling Ltd


financial Higlights

Revenue Growth and Balance Sheet Strength

· USD 775m Revenue

· USD 345m EBITDA

· USD 65m Net Profit

· USD 73m Total Dividend


Operational Higlights

Strong Operational Performance

· 97% Financial Utilisation

· USD 2.0bn Contract Backlog

· 15% CO² Intensity Reduction Per Well


People Highlights

Engaged and Excited Workforce

· 1,547 Employees

· Zero Serious Incidents

· 3.9% Sick Leave

Kjetil Gjersdal, CEO:


“Odfjell Drilling has always focused on being the best at what it does.

It takes hard work, dedication and rigorous planning whilst simultaneously keeping up with technical innovation and research. We have made doing this our business and, as a result, 52 years later, Odfjell Drilling is rightly considered one of the best drillers in the world. In 2024 however, we had to prove it again.”