Skip to main content

Maersk Drilling sells jack-up rig Maersk Convincer

Published by
Oilfield Technology,


Maersk Drilling has entered into an agreement with ADES to sell the benign environment jack-up rig Maersk Convincer for US$42.5m in an all-cash transaction. The transaction is subject to customary closing conditions, and the rig is expected to be transferred to ADES following the completion of its current drilling programme with Brunei Shell Petroleum Company (BSP).

Maersk Convincer is a Baker Pacific Class 375 cantilever jack-up rig which was delivered in 2008. It has been operating offshore Brunei Darussalam since 2017, and Maersk Drilling has reached an agreement with BSP to release the rig from its current contract upon completion of Maersk Convincer’s current drilling programme, which is expected to be completed in August 2022 and in any case not later than 15 September 2022.

Christine Morris, CFO of Maersk Drilling said: “This transaction will contribute to the optimisation of our fleet in line with Maersk Drilling’s strategic priorities of maintaining a fleet of modern, high-end assets and concentrating our jack-up activities in the harsh environments of the North Sea. Though the sale marks the end of an era of proud operations and exemplary collaboration with BSP – a joint venture between the government of Brunei Darussalam and the Shell group of companies – during which our rigs have won multiple Shell Group Jack-up of the Year awards, the Southeast Asian jack-up market is not key to us.”

After the sale, Maersk Drilling’s rig fleet counts 10 jack-up rigs, all of which are suited for operations in harsh environments, and eight floaters.

The transaction does not change Maersk Drilling’s financial guidance for 2022.


Read the latest issue of Oilfield Technology in full for free: Spring 2022

Oilfield Technology’s first issue of 2022 begins with analysis from Wood Mackenzie on the disconnect between surging oil prices and US oil production growth and investment. The rest of the issue is dedicated to features covering sand removal technology, dissolvable frac plug technology, digitalisation of offshore operations, annular intervention, oilfield chemicals, subsea compression systems and smart instrument measurement.

Exclusive contributions come from TETRA Technologies, NOV, Archer, Expro, Locus Bio-Energy Solutions, AES Drilling Fluids, MAN Energy Solutions and Winters Instruments.

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/21042022/maersk-drilling-sells-jack-up-rig-maersk-convincer/

You might also like

 
 

Embed article link: (copy the HTML code below):