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Mærsk Deliverer's Contract extended

Maritime Activity Reports, Inc.

October 16, 2014

Cabinda Gulf Oil Company Limited, a Chevron subsidiary in Angola, has extended the current contract for the ultra deepwater semi-submersible Mærsk Deliverer expiring in June 2015 by two years. Mærsk Deliverer has since 2012 been working for Chevron and its partners on the Tombua Landana field offshore Angola. With the contract extension the rig will be on contract until June 2017.

The estimated revenue potential from the two-year contract extension is USD 387m plus compensation for cost escalations over the contract period.

“We are very pleased to be able to extend our relationship with Chevron on this project, and look forward to a continued successful drilling operation. With its high growth potential Angola is a focus market of Maersk Drilling, and our ambition is to further build our position in this market over the coming years,” says Claus V. Hemmingsen, CEO in Maersk Drilling and member of the Executive Board in the Maersk Group.

Delivered in 2010, Mærsk Deliverer is the third in a series of three state-of-the-art ultra deepwater semi-submersibles in Maersk Drilling's fleet and has since its delivery been employed offshore West Africa.


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