Maersk Drilling Confirms Drillship Contract with Tullow Oil Ghana
Based on the previously announced Conditional Letter of Award, Maersk Drilling has been awarded a contract from Tullow Ghana Ltd for the provision of the ultra-deepwater drillship Maersk Venturer and additional services for a development drilling campaign at the TEN and Jubilee fields offshore Ghana. The contract commenced in April 2021, with an estimated duration of around four years. The estimated contract value is approximately USD 370m, excluding additional services provided and potential performance bonuses.
Maersk Drilling confirms long-term drillship contract with Tullow Oil offshore Ghana
The contract has a progressive day rate structure for the full duration. However, the contract contains certain provisions which, after an initial period of 18 months, permit a shift to a market-linked day rate structure and early termination for convenience by Tullow Ghana Ltd.
Maersk Venturer is a high-specification 7th generation drillship which was delivered in 2014. It is currently operating at the Jubilee field offshore Ghana.