Northern Ocean’s Deepsea Mira has become a fixture in Namibia’s Orange Basin. This presence speaks as much to the country’s rising stature in offshore exploration as it does to the rig’s technical muscle.
Built in 2019 by Hyundai Heavy Industries, the sixth-generation semi-submersible is capable of drilling in water depths beyond 3,000 metres and reaching down to 10,000 metres.
It is fitted with dual derricks, dynamic positioning and advanced blowout preventer systems, making it one of the few rigs designed to handle the harsh and unpredictable conditions of the South Atlantic.
The Mira wrapped up a high-profile drilling programme for TotalEnergies on 12 May 2025, a campaign whose results remain undisclosed but which produced a decisive US$6.5 million demobilisation fee.
That programme brought Mira’s tally to two completed wells for TotalEnergies — Tamboti-1X in Block 2913B, drilled in water depths of about 3,100 metres, and Marula-1X in the same block, drilled in similar ultra-deep waters beyond 3,000 metres since 2023.
These were drilled alongside TotalEnergies’ landmark Venus. The Venus program involved the Maersk Voyager drillship, which drilled the original Venus-1X discovery well.
The Deepsea Mira subsequently drilled the appraisal wells Venus-2A, Venus-3, and Venus-4A.
The Venus program involved the Maersk Voyager drillship, which drilled the original Venus-1X discovery well.
The Deepsea Mira subsequently drilled the appraisal wells Venus-2A, Venus-3, and Venus-4A between 2023 and 2024. The Maersk Voyager drillship had drilled the original Venus-1X discovery well.
Rather than sail away, the French supermajor paid to keep the rig in Namibian waters, a move that guaranteed continuity for the following operators lined up in the basin.
That continuity soon paid off: by July, the Mira was already under contract with Rhino Resources, working alongside state oil company Namcor in PEL 85.
While BW Energy is not an equity partner in Rhino’s acreage, it joined under a rig-sharing arrangement with Northern Ocean to drill the separate Kharas appraisal well on the Kudu licence.
The consortium deal covers two firm wells and three optional wells.
The first firm well, Volans-1X in PEL 85, was drilled in approximately 1,200 metres of water and spudded on 29 July 2025.
This deep-water well, expected to take around 55 days to drill, follows Rhino’s earlier Sagittarius-1X and Capricornus-1X wells in the same licence, the latter flow-tested at more than 11,000 stb/d of light oil.
Unlike those earlier wells drilled by the Noble Venturer drillship, Volans marks the entry of the Deepsea Mira into PEL 85.
It was followed by the Kharas-1 appraisal well on the Kudu licence (PPL003), targeting reservoirs in water depths of about 170 metres, in September.
If the three optional wells are exercised, the Mira will drill a total of five additional wells, extending its Namibian campaign through mid-April 2026.
These contracts have ensured the Mira stays busy while Namibia’s exploration story moves from frontier reconnaissance to appraisal drilling.
The rig’s ongoing presence reduces costs, cuts delays, and provides technical stability for operators racing to appraise multi-billion-barrel discoveries in the Orange Basin.
Industry observers now view the Mira as the central tool that bridges the country’s recent exploration successes with the prospect of commercial production.
The Northern Ocean, however, presents a less straightforward financial picture.
In its Q2 2025 results, the company reported revenues of US$52.6 million, down sharply from US$73.3 million in the same period of 2024, and a net loss of US$15.1 million, more than double the previous year’s quarterly loss.
For the first half of 2025, revenues fell to US$110.6 million from US$158.6 million in H1 2024, while net losses widened to US$26.3 million.
The company does not break down results by geography or rig. Still, with only two rigs in its fleet—the Deepsea Mira and the Deepsea Bollsta—it is clear that Namibia’s Orange Basin is now a significant contributor.
The US$6.5 million demobilisation fee booked in May and the estimated US$40 million value of the Rhino/BW/Namcor contract highlight the Mira’s role in sustaining backlog and cash flow.
Northern Ocean executives have emphasised that, while revenues are under pressure, Mira’s continued regional presence secures a competitive advantage.
By having an ultra-deepwater rig already in place, the company can capture work not only in Namibia but across West Africa, where activity is expected to increase into 2026.
