Maersk Drilling wins 11-month extension for rig, inks new framework agreement with Equinor

Maersk Drilling has been awarded a four-well extension for the low-emission jackup rig Maersk Intrepid to continue working for Equinor offshore Norway.

In direct continuation of the rig’s current workscope at the Martin Linge field, Maersk Intrepid will be assigned to drill and complete three additional gas wells at Martin Linge, followed by the plugging and abandonment of one well.

The contract extension is expected to commence in September 2020, with an estimated duration of 339 days, which will keep the rig deployed into the second half of 2021.

In addition, Maersk Drilling and Equinor have reached an agreement on the provision of integrated services for the campaign, including managed pressure drilling, slop treatment, cuttings handling, and tubular running services. The contract value is approximately US$100 million, including rig modifications and upgrades, but excluding the integrated services provided and potential performance bonuses.

The contract includes an additional one-well option, plus the option of adding up to 120 additional days of well intervention.

The contract extension is agreed as part of a new master framework agreement between Equinor and Maersk Drilling, aimed at facilitating long-term collaboration in Norway and internationally. Under this agreement, the parties will commit to collaborate on technology advancements with a focus on digitalisation and automation, as well as further initiatives to limit greenhouse gas emissions from drilling operations.

Further, the agreement lays out a general framework for the delivery of integrated services.

As part of the agreement, Equinor has designated Maersk Intrepid as a preferred jackup rig, with exclusive access to the rig if certain conditions are met.