Maersk and Equinor Enter Into $100 Million Deal

Maersk Intrepid Drilling

writer icon Emma Egelund     Maersk Drilling   |   Business     🕐 01. May. 2020

Despite Norwegian Maersk Drilling's plans to make 250 - 300 people redundant due to the effects of the corona-crisis, things are now looking up for Maersk Drilling as they have secured a $100 million contract.

The Hybrid Jack-up Rig
The hybrid jack-up rig Maersk Intrepid has been awarded a contract for the drilling of three wells and plugging of one on the Martin Linge field.

Maersk Drilling will also get a framework contract with Equinor. 

$100 Million Contract
The value of the contract is estimated at approximately $100 million.

This includes rig modifications and upgrades and exclusive of intervention activities, integrated services and any incentive payments for safe and efficient operations.

And the contract includes an option to drill a well. 

“We are pleased about the agreement we have entered into with Maersk Drilling. It builds on our long-term collaboration and facilitates continuous improvements in safety and efficient progress,” said Peggy Krantz-Underland, Equinor’s Chief Procurement Officer.

Peggy Krantz-Underland and Erik Gustav Kirkemo Peggy Krantz-Underland and Erik Gustav Kirkemo.

The integrated services in the rig contract are managed pressure drilling (MPD), slop treatment, cuttings handling and tubular running services.

“This will be the first jack-up rig to have a hybrid package retrofit as one of several initiatives to reduce greenhouse gas emissions during operations. The rig will also be prepared for the use of automated drilling technology,” explained Erik Gustav Kirkemo, Senior Vice President for Drilling and Well.

“So far, the rig has been used to improve the bed capacity on the Martin Linge platform. We look forward to starting the drilling operations with Maersk Intrepid,” Kirkemo added.

The new contract is scheduled to take effect in September.

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