Newbuild Jack-up Rig Charter Exended

Press Release
Friday, June 07, 2013
Maersk Drilling receives two-year term extension for newbuild jack-up rig 'XL Enhanced 2'.
 
Det Norske Oljeselskap ASA (Det norske) has on behalf of the partners in the Ivar Aasen project, exercised its contractual right to extend the contract for the newbuild ultra harsh environment jack-up, XL Enhanced 2, by two years. Consequently, the duration of the firm contract is now five years. The estimated value of the two-year contract extension is approximately USD 280 million, bringing the total estimated contract value to approximately USD 700 million. Det norske has options to extend the contract up to a total of seven years.

The rig is currently under construction at the Keppel FELS shipyard in Singapore. Commencement of drilling operation is scheduled for late 2014 following delivery of the rig from the shipyard and mobilisation to the North Sea. The rig will be used for drilling on the Ivar Aasen development in the Norwegian North Sea.

“Det norske is a valued client of Maersk Drilling and we are very pleased to extend the scope of our work with Det norske on the Ivar Aasen development. The extension of the contract for XL Enhanced 2 confirms the need for high specification rigs in Norway and is a confirmation of our strategy to expand our position in the Norwegian jack-up market and consolidate our market leading position in this segment in Norway,” says Claus V. Hemmingsen, CEO of Maersk Drilling and member of the Executive Board of the A.P. Moller-Maersk Group.

Svein Ola Syrstad, Vice President Drilling in Det norske comments: “We are pleased with the extension of the contract with Maersk Drilling. The extension ensures rig capacity for the initial drilling and completion activities at Ivar Aasen.”

In December 2011, Det norske awarded Maersk Drilling a three year contract for the XL Enhanced 2 jack-up with options for Det norske to extend the contract up to a total of seven years. At that time the contract was subject to submission and subsequent approval by the Norwegian Government of the development plans for Ivar Aasen. On 21 May 2013, the Storting approved the development of Ivar Aasen. The Ivar Aasen field contains approximately 150 million barrels of oil equivalents.

The XL Enhanced 2 rig is the second of three XL Enhanced jack-ups ordered by Maersk Drilling in 2011 and 2012. The three rigs have delivery from yard in 2014 and 2015 and have all secured long term contracts. The XL Enhanced design is a further enhanced version of the existing ultra-harsh environment jack-ups Maersk Innovator and Maersk Inspirer. Like their sister rigs, the three new rigs are designed to operate in the harsh environment found in the North Sea and comply with all rules and regulations in the strictly regulated Norwegian sector.

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Scrap Metal Exporter Pens Terminal Agreement

Port Canaveral Scrap Terminal LLC (PCST), a bulk ferrous scrap exporter, has signed a lease with the Canaveral Port Authority to operate a terminal in the north cargo area at Port Canaveral.

Telemar to Supply Broadband for Herm. Dauelsberg

Telemar GmbH, the German subsidiary of the Telemar Group, closed an agreement with Herm. Dauelsberg for the supply of a complete “turn-key solution” for their fleet of 18 vessels.

Brazil AHTS Contract Breakthrough for Havyard

Havyard says it is to deliver the ship design and equipment for four anchor handling tug supply (AHTS) vessels that are to be built and operated by the Brazilian

Offshore

Odfjell Drilling in Tighter 2Q North Sea Market

Odfjell Drilling reports second quarter 2014 financial results showing a profit of US$29-million. Profit & loss Q2 2014 Operating revenue for Q2 2014 was USD 272 million (USD 289 million),

Brazil AHTS Contract Breakthrough for Havyard

Havyard says it is to deliver the ship design and equipment for four anchor handling tug supply (AHTS) vessels that are to be built and operated by the Brazilian

EOC Takes Full Ownership of OSVs

On 26 August 2014, EOC Limited agreed to acquire 50% of the entire issued share capital of Lewek Antares Shipping Pte. Ltd. (the "Target") , a company incorporated under the laws of Singapore,

Offshore Energy

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

Odfjell Drilling in Tighter 2Q North Sea Market

Odfjell Drilling reports second quarter 2014 financial results showing a profit of US$29-million. Profit & loss Q2 2014 Operating revenue for Q2 2014 was USD 272 million (USD 289 million),

Rosneft Restores Meteorological Observations System in Kara Sea

As part of a large-scale summer Arctic research expedition "Kara-Summer - 2014" a meteorological station was installed that meets the latest modern requirements for such equipment,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1843 sec (5 req/sec)