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Maersk buys new jack-up rig for North Sea work

Xinhua, May 27, 2016 Adjust font size:

Danish oil and shipping group A.P. Moeller-Maersk has acquired a newly built harsh environment jack-up rig for its gas field in North Sea, the company said Friday.

The order is placed with a subsidiary of Hercules Offshore and with immediate delivery from Jurong Shipyard in Singapore, said Maersk Drilling, the group's drilling rig operator, in a press statement.

The rig will be placed on the Culzean gas field in the UK North Sea to commence a five-year drilling contract with Maersk Oil and its partners, BP and JX Nippon.

According to the agreement, Maersk Drilling settles the final payment of approximately 190 million U.S. dollars with Jurong. The value of the five-year drilling contract is about 420 million dollars, including a mobilization fee of 9 million dollars.

The rig has accommodation capacity for up to 150 personnel, with 30,000-foot drilling depth and HPHT (High Pressure High Temperature) capabilities, according to the company.

After the acquisition, Maersk Drilling's rig fleet totals 23 rigs with an additional harsh environment jack-up rig under construction.

Maersk Drilling employs an international staff of 4,000 people and generated a profit of 751 million dollars in 2015. Endit