Maersk Drilling and Aker BP in US$1 billion Deal
Maersk Drilling and Aker BP have revealed that they have entered into a deal to renew and extend a frame agreement which establishes Maersk Drilling as the jack-up rig drilling partner of Aker BP.
The agreement confirms the companies’ commitment to renew the frame agreement by a five-year period and includes a commitment from Aker BP for the provision of the jack-up rigs Maersk Integrator and Maersk Invincible, for activities offshore Norway, the companies outlined.
Over the frame agreement renewal period, the five-year commitment for the two rigs is expected to have a combined total contract value of approximately US$1 billion, according to Maersk Drilling and Aker BP.
In extension of the framework agreement, the companies noted that they have further committed to a hybrid investment case, under which Maersk Drilling will outfit the Maersk Invincible with hybrid, low-emission upgrades similar to those previously installed on Maersk Intrepid and Maersk Integrator.
The Maersk Invincible is currently operating for Aker BP offshore Norway and the Maersk Integrator is currently warm stacked in Åmøyfjorden outside Stavanger after recently completing a drilling campaign for Aker BP.
“We are absolutely delighted to reaffirm our commitment to Aker BP for another five years and to secure major scope additions during these five years,” Jørn Madsen, the chief executive officer of Maersk Drilling, said in a company statement.
“Working in such a collaboration has long since proved its worth by setting new standards for what is achievable in offshore drilling, producing remarkable efficiency gains in many stages of drilling campaigns and in this way adding significant value creation for all parties involved,” Mr Madsen added in the statement.
“It is evident that we are able to raise the performance across the board when we collaborate closely as trusted partners, and by building further on our now well-established groundwork, we will be able to achieve even greater results,” he went on to say.
Commenting on the deal, Tommy Sigmundstad, the SVP of drilling and wells at Aker BP, said, “this commitment by Aker BP to renew the frame agreement with Maersk and a long-term horizon for both the Maersk Invincible and Maersk Integrator reflects the value of our relationship, as we work together with our strategic partners to reduce waste and carbon footprint whilst lowering the cost per barrel”.
“Strategic alliances in addition to the digitalization strategy are key enablers to our ambitious improvement agenda,” Mr Sigmundstad added.
The latest deal is one of several Maersk Drilling has made in recent weeks. On the 3rd December the company secured a one-well contract with OMV (Norge) AS, which will employ the Maersk Intrepid to drill a well offshore Norway, and on the 1st December the company and Petrogas North Sea Ltd agreed to exercise a previously agreed exclusive option to employ the Maersk Resilient to drill an appraisal well at the Birgitta field in the UK sector of the North Sea.
On the 17th November Maersk Drilling bagged a contract with ONE-Dyas BV, which it said will employ the harsh environment jack-up rig Maersk Resolute to drill the IJssel and Clover exploration wells in the Dutch sector of the North Sea.
Source: Rigzone