Maersk Drilling awarded two-well contract extension for low-emission rig Maersk Integrator under Aker BP alliance
Maersk Drilling has secured a two-well contract extension from Aker BP for the ultra-harsh environment, low-emission jack-up rig Maersk Integrator, the company said in its release. 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.
Maersk Integrator is an ultra-harsh environment CJ70 XLE jack-up, designed for year-round operations in the North Sea. It was delivered in 2015 and is currently operating offshore Norway for Aker BP. The rig is expected to perform its scheduled Special Periodic Survey in August 2020 and will undergo a series of upgrades to turn it into a hybrid, low-emission rig prior to moving to the Tambar field in September 2020.
