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 April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

SAAM SMIT Towage Brazil Signs on with Helm

Helm Operations has signed on Brazilian harbor services company SAAM SMIT Towage to its Helm Marine Operations software to manage its billing and dispatch.    SAAM

Siemens Wins Vessel Electrical Installation Contract

Nautilus Minerals Inc. announces that the order for the supply of the entire electrical installation for the production support vessel has been awarded to Siemens International Trading (Shanghai) Ltd.

New Domestic Ferry for Faroe Islands Service

Third generation domestic ferry for service between Nólsoy and Tórshavn in the Faroe Islands.   According to the vessel's designer, this project is the second

Offshore

USCG Rescues Disabled Fishing Vessel

A fishing crew is back on land today after a fouled anchor line stranded them about 115 miles east of Gloucester, Massachusetts, Saturday. Initially, the

MacGregor Inks Deal with Grupo CBO

MacGregor, part of Cargotec, has secured a contract with the Brazilian shipowner and shipbuilder Grupo CBO. The contract is to supply Triplex deck handling equipment

NOAA’s National Saltwater Recreational Fishing Policy Opposed

Recently, NOAA Fisheries released the implementation plan to support the latest National Saltwater Recreational Fishing Policy. The policy, announced at the

Offshore Energy

CWind Orders More Composite Workboats

CTruk has won an order for two more of its 22m multi-purpose catamaran Wind Farm Service Vessels (WFSVs). Both will be delivered to offshore wind service supplier

Kongsberg Simulators to Enhance GoM Offshore Training

‘Fideicomiso de Formación y Capacitación para el Personal de la Marina Mercante Nacional’ (FIDENA), on behalf of Mexico’s Secretariat of Communications and Transportation

African, Chinese Shipbuilders Form Partnership

Southern African Shipyards (SAS) has entered into a Memorandum of Understanding (MOU) with China Shipbuilding Trading Company (CSTC), a subsidiary of China State Shipbuilding Corporation,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Pipelines Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.1633 sec (6 req/sec)