Maersk Drilling awarded two-well contract extension

Maersk Drilling awarded two-well contract extension

Maersk Drilling has secured a two-well contract extension from Aker BP for the ultra-harsh environment, low-emission jack-up rig Maersk Integrator. In direct continuation of the rig’s current workscope, Maersk Integrator will move to the Ivar Aasen field offshore Norway to drill two wells, with work expected to commence in October 2020.

The extension has an estimated duration of 93 days and a contract value of approximately USD 25.5m, excluding a potential performance bonus. The contract includes an additional one-well option.

Maersk Integrator is contracted under the terms of the alliance agreement Maersk Drilling entered into with Aker BP and Halliburton in 2017. The tripartite alliance uses a shared incentives model, thereby securing mutual commitment to collaborate to reduce waste and deliver value. Contracts under the alliance are based on market-rate terms but add the possibility of an upside for all parties, based on actual delivery and performance.

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Source / More : Maersk Drilling

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