Maersk Drilling secures extension from Equinor at Martin Linge

Maersk Drilling has been awarded a four-well extension by Equinor for 2014-built jackup rig Maersk Intrepid.

The extension will commence in September 2020, in direct continuation of the current workscope at the Martin Linge field. Maersk Intrepid will drill and complete three additional gas wells, followed by the plugging and abandonment of another well.

The contract has an estimated duration of 339 days, keeping the rig active through to the second half of 2021. An additional one-well option is also available, as is the option to add up to 120 additional days of well intervention.

Maersk Drilling and Equinor have also reached an agreement on the provision of integrated services for the campaign.

The contract value is around $100m, including rig modifications and upgrades although excluding the integrated services provided and performance bonuses. 

Jørn Madsen, CEO of Maersk Drilling, commented: “In light of the current market situation, it’s even more important to maintain our strategic focus on driving value for our customers by enhancing efficiency through better planning, execution, and orchestration of drilling campaigns, while also making additional investments to limit emissions from drilling. This resonates well with Equinor’s focus on cost efficiency and responsible, low-emission drilling, and we look forward to immediately starting preparations for a successful ‘one team’ drilling operation along with Equinor and the other suppliers designated for the campaign.”

Maersk Drilling is planning a series of upgrades to the Maersk Intrepid to turn it into a hybrid, low-emission rig.

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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