Maersk Drilling has received an extension for the jack-up rig Maersk Resolute, from Hess Corporation.
Hess has exercised the four one-well options included in the current contract for the jack-up rig Maersk Resolute. Each of the four additional wells has an estimated duration of around 90 days implying an extension of the current contract by approximately 1 year.
The current seven firm wells programme is expected to end by April 2015. With the exercising of the four one-well options, the rig will be employed until April 2016. The estimated value of the extension is approximately US$ 75 million.
Maersk Resolute is the second in a series of four high efficiency 350 ft jack-ups.
Maersk Oil will no longer pursue growth or operatorship for its business in Brazil, and has consequently divested its ownership share in the Polvo field.