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Sunday, April 22, 2018

Maersk Drilling News

Maersk Establishes Decomissioning Company

(Photo courtesy Maersk Supply Service)

A 50/50 joint venture (JV) between Maersk Drilling and Maersk Supply Service will provide decommissioning services to oil and gas operators. After decades of production, an increasing amount of offshore oil and gas fields are approaching the end of their economic life. In the North Sea alone, more than 400 fields are expected to cease production by 2026 at an estimated cost of $56 billion. Globally, more than 700 fields are expected to require decommissioning. The JV will initially offer bundled solutions for up to 80 percent of the oil field decommissioning process…

Zambelli appointed CCO, Maersk Drilling

Ana Zambelli, currently Managing Director for Subsea Operations at Transocean, will take up the role as Chief Commercial Officer (CCO) in Maersk Drilling. She will start 1 June 2015 reporting directly to CEO Claus V. Hemmingsen. Ana Zambelli will assume the position as CCO after Martin Fruergaard, who after 25 years in the Maersk Group, six of them as CCO for Maersk Drilling, will leave Maersk Drilling. “Martin has for more than 25 years served the Maersk Group in various positions, the last six years as CCO of Maersk Drilling, where he has been instrumental in our growth and has provided for increased customer relations as a large part of the recipe for our success.

Maersk Drilling Bags Contract with Tullow Ghana

Photo: Maersk Drilling

Maersk Drilling has been awarded a four year contract for the deep-water drillship Maersk Venturer by Tullow Ghana Ltd. The contract, which was signed December 2017, is expected to commence in February 2018 and covers development drilling on the Jubilee and TEN fields offshore Ghana. Maersk Venturer is currently in transit for the job offshore Ghana thereby further strengthening Maersk Drilling’s presence in the region. ”I am very pleased that Maersk Drilling will be mobilising another deepwater rig for this significant job in a strategically important region.

Maersk Drilling Names First Female Director

Maersk Drilling has appointed Moira Ming Ying Li as Unit Director

Maersk Drilling has appointed Moira Ming Ying Li as unit director for the Maersk Deliverer rig working for Chevron offshore Angola. She will assume her new role August 15, 2014. Moira is the first female unit director in Maersk Drilling. “We are very pleased to appoint Moira Ming Ying Li as unit director on the Maersk Deliverer. Moira has proven herself time and time again through various positions in Maersk Drilling, latest as Assistant Rig Manager for Drillship 4, and I am confident that she will strive in her new role with the rest of the team on Maersk Deliverer…

Maersk Drilling Q2 2014 Profit Dips

Ultra-deepwater rig: Photo Maersk

Maersk Drilling informs that in Q2 2014 it delivered a profit (NOPAT) of USD 117-m (USD 150-m). While the underlying operational performance remained strong with an operational uptime of 97% (96%), the decrease in profit of USD 33-m compared to Q2 2013 was mainly due to planned activities with growing and maintaining the fleet. The return on invested capital (ROIC) was 7.2% (12.6%). “Once again, Maersk Drilling delivers a strong operational performance, but as expected the financial result was impacted by three rigs undergoing planned maintenance…

2,545 Candidates Vie for 11 Positions at Maersk Drilling

Maersk Drilling CEO, Claus V. Hemmingsen & the 7 newly graduated MITAS trainees

Maersk Drilling reported 2,545 applicants for the 11 MITAS engineer positions available within the company in 2014. The Maersk International Technology and Science Program, better known as MITAS, has helped Maersk Drilling attract bright new talents since 2006. The MITAS program is a full two year introduction programme made up by three eight-month rotations in different positions around the company and in Maersk Oil. In 2014, a record-breaking 2,545 applicants were interested in taking on the program. “Maersk Drilling’s ambitious growth strategy requires new talent and fresh ideas.

Ultra-deepwater Drillship 'Maersk Valiant' Delivered

'Maersk Valiant': Photo Maersk Drilling

Maersk Drilling advises that its second new drillship, 'Maersk Valiant', has been delivered from the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South-Korea. Maersk Valiant has begun its voyage towards the US Gulf of Mexico via Singapore to commence a two year contract with ConocoPhillips and Marathon Oil Corporation. Maersk Valiant is the second in a series of four ultra deepwater drillships to enter Maersk Drilling’s fleet. The four drillships represent a total investment of US$2.6-bn and will be delivered from the SHI shipyard in 2014.

Maersk Drilling Profit $358-million in 2012, Eye on a Billion

Maersk Drill Ship: Photo courtesy of Maersk Drilling

Maersk Drilling release its financial summary statement for year 2012. With high contract coverage for the coming years and the delivery of seven new large rigs in 2013-2015, Maersk Drilling says it is on track towards to reach its target of a profit of USD 1 billion by 2018. The full year result for 2012 was, however, negatively impacted by costly start-up issues on two drilling rigs. Maersk Drilling’s profit for 2012 was USD 359 million compared to USD 488 million in the record breaking year 2011.

Durkin Appointed COO of Maersk Drilling

Angela Durkin from Baker Hughes will join Maersk Drilling as new Chief Operating Officer (COO). She will assume her new role 1 May 2015 taking over from Jørn Madsen and report directly to CEO Claus V. Hemmingsen. “We are very pleased that Angela Durkin will join Maersk Drilling. Angela brings vast experience with her from Baker Hughes, and with her technical competencies and enormous international experience from an oilfield service provider in the drilling industry, she is just the right fit for Maersk Drilling. I am confident that with Angela on board, we will have an even stronger foundation for partnering and working together with our customers in order to increase overall efficiencies and to bring down costs in the drilling operation and well completion,” says Claus V.

Maersk Drilling Reports Q3 2012 Less Profitable

'Maersk Discoverer': Photo courtesy of Maersk Drilling

In its interim third quarter financial report the company says it remains on track to attain its long-term profit target. Maersk Drilling’s profit in the third quarter 2012 was US$ 87-million compared to US$ 139-million in the third quarter of 2011. The latest quarterly result was negatively impacted by two delayed start-ups and maintenance yard stays for two drilling rigs. With the recent US$ 700-million contract for the second newbuild drillship and a high forward contract coverage…

Maersk Drilling Delivers $164m Profit

Claus V. Hemmingsen, CEO in Maersk Drilling  Photo Maersk

Maersk Drilling delivered a profit of USD 164m (USD 218m) in the second quarter of 2016. The result is positively impacted by a strong operational performance with an average uptime of 98% and savings on operating costs, however partly offset by more idle days. The underlying profit was USD 164m (USD 189m), generating a ROIC of 8.3% (10.6%). “A high operational performance averaging 98% and further savings on operating costs are both contributing factors to the satisfactory result we deliver in the second quarter.

Maersk Drilling Secures Offshore West Africa Contract

Driller's cabin on a Maersk Rig: Photo credit Maersk Drilling

Jack-up rig 'Maersk Endurer' contracted for 2-year drill off Cameroon, adding about US$ 100-million to Maersk Drilling's contract backlog. Maersk Drilling expands its activities in West Africa with the signing of a contract for the jack-up Maersk Endurer with Addax Petroleum, owned by Sinopec, which is one of the largest oil and gas producers in the world. The contract duration is two years and the value is around USD 100 million. Expected commencement is late October 2012. “We are pleased to have signed this contract with a very experienced operator in West Africa…

Maersk Drilling Secures Contract for Newest Drillship

Maersk Voyager (Photo courtesy of Maersk Drilling)

Maersk Drilling was awarded a contract from eni Ghana Exploration and Production Ltd. for employment of the newbuild drillship Maersk Voyager. The contract will see Maersk Voyager work on the Offshore Cape Three Points (OCTP) Project offshore Ghana with expected commencement in July 2015. The firm contract period is 3.5 years with an option to extend by one year, and the total estimated revenue from the firm contract is $545 million including mobilization and escalations. Claus V. Maersk Voyager is the last in a series of four ultra deepwater drillships in Maersk Drilling’s rig fleet.

Maersk Drilling profits down to USD 116m Q1 2014

Maersk Drilling - Jack Up Rig

Maersk Drilling delivered a profit (NOPAT) of USD 116m (USD 146m) in the first quarter of 2014. The result was negatively impacted with USD 30m compared to the first quarter result last year mainly due to planned yard stays and the intake of two new rigs. “2014 is a year of execution in progressing on Maersk Drilling’s ambitious growth strategy. As expected our first quarter result is negatively impacted by planned yard stays and the intake of two new rigs in our fleet. However…

Keppel FELS Delivers Largest Rig to Maersk

Maersk Integrator Photo courtesy Keppel Offshore & Marine

Keppel FELS Limited has delivered the ultra-harsh jackup rig, Maersk Integrator, to Maersk Drilling, a wholly owned subsidiary of A.P. Moller - Maersk A/S, thirty days ahead of schedule, on budget and with a perfect safety record. The rig was named at a ceremony today in Keppel FELS by Ms Margareth Øvrum, Executive Vice President, Technology, Projects and Drilling, Statoil. Maersk Integrator is an XL Enhanced (XLE) harsh environment jackup rig and the third in the XLE series delivered to Maersk Drilling.

Maersk Drilling Posts Record Profit

Courtesy Maersk Drilling

Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted by continued strong operational performance, fleet growth and general cost savings. However, increased idle time negatively affected the results. The underlying profit was USD 732m (USD 471m). “Maersk Drilling delivered a satisfactory result given the adverse market conditions. We continue to focus on operational performance and a competitive cost level…

Maersk Drilling's Strong 1Q Performance

Simulator Courtesy Maersk Drilling

Maersk Drilling delivered a profit of USD 168m (USD 116m) in the first quarter of 2015. The result was positively impacted by fleet growth and continued good operational performance, but partly offset by two rigs being idle. The underlying profit for the quarter was USD 195m (USD 109m) generating a ROIC of 8.5% (8.1%). “Maersk Drilling continues its strong operational performance, and once again deliver a good result. The result is especially impacted by the many new rigs that were added to our fleet during the last year…

Maersk Drilling Wins 2-Year Angolan Extension

The head of Maersk Drilling said on Wednesday the A.P. Moller-Maersk unit has won a two-year extension for its Maersk Deliverer deepwater rig worth $387 million. Maersk Venturer, a new rig set to be delivered this year, had also won a letter of award for a short-term contract in South East Asia, Maersk Drilling Chief Executive Claus Hemmingsen told Reuters during a capital markets day. Such an award means the parties have agreed to a deal but are yet to hammer out details such as day rates.   Reporting by Sabina Zawadzki  

Maersk Venturer to Drill for Total

Maersk Venturer

Maersk Drilling has been awarded a contract for the drillship Maersk Venturer with oil major Total. The contract covers one exploration well (estimated duration 120 days) in block 14 offshore Uruguay. The estimated contract value for the programme is USD 44m excluding mobilisation. The drilling programme is expected to commence in March 2016. “We have collaborated and partnered with Total many times over the years. Total is a highly valued customer of Maersk Drilling, and we are very pleased with being selected by Total to drill their first exploration well offshore Uruguay,” says Claus V.

Decommissioning of Maersk Endurer

Maersk Endurer

Maersk Drilling has decided to decommission the rig Maersk Endurer from the fleet and recycle the rig with Zhoushan Changhong International Ship Recycling in China. “Given the current market situation and the over-supply of drilling rigs in the offshore market, there is a strong need to retire older rigs. Therefore, Maersk Drilling has decided to decommission its oldest rig in the fleet, Maersk Endurer,” says Morten Pilnov, Head of Global Sales in Maersk Drilling. The rig will be transported to Zhoushan Changhong International Ship Recycling mid-July 2015…

Petrogas Hires jack-up Maersk Resolute

Courtesy Maersk Drilling

Maersk Drilling has been awarded a new contract with Petrogas E&P Netherlands B.V. for the High Efficiency jack-up, Maersk Resolute. The firm contract covers the drilling of the two wells, A8 and A9 in the A12 block of the Dutch continental shelf. The drilling of the two wells is estimated to have a duration of 75 days. Furthermore, an option to extend the contract for up to five additional wells exist. Operations are expected to commence in June 2017 in the Dutch Sector of the North Sea.

Maersk Drilling: One Dead After Tambar Oilfield Accident

File Image: An Aker BP offshore installation at the Tambar Field. (CREDIT: Aker BP)

Maersk Drilling said on Friday that an employee, a Norwegian citizen, has died following an accident on a drilling rig at Aker BP's Tambar oilfield off Norway on Thursday.   Another person was injured and is receiving medical treatment but his condition is not critical, said Maersk Drilling, which is owned by A.P. Moller-Maersk.   The field's production has been shut, Aker BP said in a separate announcement.   Reporting by Teis Jensen 

Maersk Drilling Name First Ultra-Deepwater Drillship

Maersk Viking: Photo credit Maersk Drilling

The new drillship was named 'Maersk Viking' by Mrs. Nathalie Newman, wife of Mr. Harry E. Newman Jr., ExxonMobil Global Drilling Manager in a ceremony at the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South Korea. Maersk Viking is the first in a series of four ultra deepwater drillships to enter Maersk Drilling’s rig fleet. The four drillships represent a total investment of USD 2.6bn and will be delivered from the SHI shipyard in late 2013 and 2014. After delivery from the yard and mobilisation to the US Gulf of Mexico…

Maritime Reporter Magazine Cover Apr 2018 - Offshore Energy Annual

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