Maersk Drilling Sold Out in Norway Until Q2 2014

Press Release
Monday, April 23, 2012

Maersk Drillling contract with Centrica Energy fills up Maersk's rig capacity in Norway

Maersk Drilling has signed a new contract with Centrica Energi at a value of at least USD 60 million. With this contract the company's rig capacity in Norway is sold out until the second quarter of 2014. The demand for ultra harsh environment rigs keeps growing while rig supply remains tight.

The contract employing the ultra harsh environment jack-up MÆRSK GIANT covers the drilling of two or three wells with an estimated duration of 170-210 days at a day rate of USD 350,000. The contract is expected to commence in the fourth quarter of 2013.

With the signing of this contract all of Maersk Drilling's rig capacity in Norway is sold out until the second quarter of 2014. Maersk Drilling is the market leader in the Norwegian jack-up market currently owning and operating six of the nine jack-up rigs present in the area. Martin Fruergaard, Chief Commercial Officer of Maersk Drilling, explains:

"With more than 20 years of operating experience in Norway, which has some of the toughest safety and environmental requirements in the world, Maersk Drilling is well positioned to meet the growing demand of our customers."

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