Danish rig owner Maersk Drilling said it is investigating recycling opportunities for its cold-stacked nineteen-year-old semisub rig, Maersk Explorer.
.The unit, built by Keppel FELF in 2003, has been idle in Azerbaijan since April 2021 after completing its contract with BP at Shah Deniz in the South Caspian Sea.
The company recognised a net loss of $172m in the first six months as a result of non-cash impairments taken on the semi and on the 2008-built jackup Maersk Convincer, which it agreed to sell to offshore rig operator ADES for $42.5m.
“In connection with the decision to cold stack the benign floater, Maersk Explorer, an impairment of $99m was recognised at June 30, 2022,” the company noted in its half-year earnings report.
Maersk Drilling’s floater segment reached a utilisation of 88% in the second quarter. Out of all eight floater units, the Maersk Explorer is the only one currently without a contract.
