Norway: Maersk Drilling Receives LoI for Newbuild Jack-up Rig

Maersk Drilling has received a Letter of Award from Det norske oljeseskap ASA on behalf of the Draupne license for the ultra harsh environment jack-up rig, XL Enhanced 2, presently under construction in Singapore.

The rig will be used for development drilling on the Draupne field located in the Norwegian North Sea. The firm contract duration is three years with options for Det norske to extend up to a total of seven years. The total contract value for the firm three-year period is approximately USD 413 million. Commencement is scheduled for fourth quarter 2014 following delivery of the rig in Singapore and mobilization to the North Sea. The contract is subject to submission and subsequent approval by the Norwegian authorities of the development plans for the Draupne field.

“Det norske is a valued client of Maersk Drilling and we are very pleased to strengthen our business relation through the Draupne development project. With this contract in place we have now secured employment for both of our XL Enhanced ultra harsh environment jack-up newbuilds. This confirms our strategy to expand our fleet of modern, high capacity jack-up rigs for the Norwegian market,” says Claus V. Hemmingsen, CEO of Maersk Drilling and member of the Executive Board of the A.P. Moller – Maersk Group.

To be delivered in 2014, the ”XL Enhanced” design is a further enhanced version of the existing ultra harsh environment jack-ups, MÆRSK INNOVATOR and MÆRSK INSPIRER. Like their sister rigs, the two new rigs are designed to operate in the harsh environment found in the North Sea and complies with all rules and regulations in the strictly regulated Norwegian sector.