Maersk Drilling and Maersk Supply Service form decommissioning joint venture

Maersk Drilling and Maersk Supply Service form decommissioning joint venture

Maersk Drilling and Maersk Supply Service have established a 50:50 joint venture to provide decommissioning services to oil and gas operators.

The two companies will initially offer bundled solutions covering up to 80% of the process needed to decommission an oil field including project management, plug and abandonment, towage of floating unit and removal of subsea infrastructure. The jv will work towards providing a complete decommissioning service in future.

Jon Madsen, CEO of Maersk Drilling, commented: “With the growing need for decommissioning matter fields, governments and oil and has operators are looking for experienced partners to manage and perform this challenging task. By leveraging the strong track record off the two companies, as well as our complementary asset based and competencies, we can lower the risk and reduce the overall cost for the customers.”

The two companies have invested $20m in the venture, which will launch as a separate brand and be headed by Lars Banke.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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