Maersk Drilling Secures Two Well Contract from Aker BP

Maersk Drilling has secured an additional two-well contract for the low-emission rig Maersk Integrator with Aker BP. The plan is that in direct
Maersk Drilling Secures Two Well Contract from Aker BP
Maersk Drilling Secures Two Well Contract from Aker BPMaersk Drilling

Maersk Drilling has secured an additional two-well contract for the low-emission rig Maersk Integrator with Aker BP. The plan is that in direct continuation of the rig’s previously announced work scope with a different operator, Maersk Integrator will return to Aker BP’s Ivar Aasen field for a two-well campaign expected to commence in Q3 2021. The contract has an estimated duration of 73 days and a contract value of approximately USD 19.5m, excluding integrated services provided and potential performance bonuses.

Maersk Integrator is contracted under the terms of the frame agreement that Maersk Drilling and Aker BP entered into in 2017 as part of the Aker BP Jack-up Alliance which also includes Halliburton. The tripartite alliance uses a shared incentives model, thereby securing mutual commitment to collaborate and drive digital initiatives 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.

The ultra-harsh environment jack-up rig is currently completing a series of upgrades to turn it into a hybrid, low-emission rig. The upgrades are supported by a grant from the Norwegian NOx Fund and a separate compensation scheme agreed with Aker BP rewarding reductions in fuel consumption and reduced emissions.

Maersk Integrator is an ultra-harsh environment CJ70 XLE jack-up rig, designed for year-round operations in the North Sea. It was delivered in 2015 and is currently operating offshore Norway.

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