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Maersk Drilling names two ultra-deepwater drillships

GEOJE-SI, South Korea -- Maersk Drilling’s second and third ultra-deepwater drillships have been named in a ceremony held at the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South Korea. Lisa Lance, wife of Ryan M. Lance, chairman and CEO, ConocoPhillips, had the honor of naming Maersk Valiant, and Annell R. Bay, V.P. Global Exploration, Marathon Oil Corporation, had the honor of naming Maersk Venturer.

Maersk Valiant and Maersk Venturer are the second and third in a series of four ultra-deepwater drillships to enter Maersk Drilling’s rig fleet. The four drillships represent a total investment of $2.6 billion and will be delivered from the SHI shipyard in 2014.

After delivery from the yard, Maersk Valiant will commence a three year firm contract with ConocoPhillips and Marathon Oil for their respective drilling programs in the U.S. Gulf of Mexico. The contract includes options for up to an additional two years. The estimated contract value for the firm contract is $694 million including mobilization, but excluding cost escalation. A contract for Maersk Venturer is yet not signed.

“We have an ambition of growing our business activities in the ultra deepwater market. With Maersk Valiant going to the U.S. Gulf of Mexico to work for ConocoPhillips and Marathon Oil, Maersk Drilling will then operate three rigs in the region, and we are well on our way to becoming a significant drilling contractor in that market since we entered the market in 2009,” says Claus V. Hemmingsen, CEO of Maersk Drilling and member of the Executive Board of the A.P. Moller – Maersk Group.

Featuring dual derrick and large subsea work and storage areas, the drillships’ design allows for efficient well construction and field development activities through offline activities. With their advanced positioning control system, the ships automatically maintain a fixed position in severe weather conditions with waves of up to 11 meters and wind speeds of up to 26 meters per second. Special attention has been given to safety on board the drillships. Equipped with Multi Machine Control on the drill floor, the high degree of automation ensures safe operation and consistent performance. Higher transit speeds and increased capacity will reduce the overall logistics costs for oil companies.

01/29/2014

 

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