Maersk Drilling names fourth and final XLE jackup

SEOUL, South Korea -- Maersk Drilling’s fourth XL Enhanced ultra-harsh environment jackup was named in a ceremony at the Daewoo Shipbuilding and Marine Engineering (DSME) shipyard in South Korea. Bente Norheim, wife of Jan Norheim, managing director of BP Norge, honored Maersk Drilling by naming the rig Maersk Invincible.

Maersk Invincible is the fourth and final rig in a series of four ultra-harsh environment jackup rigs to enter Maersk Drilling’s fleet. The four jackup rigs represent a total investment of $2.6 billion. The first three jackup rigs have been delivered from the Keppel FELS shipyard, while the Maersk Invincible will be delivered from DSME later in 2016.

After delivery from the yard, Maersk Invincible will mobilize to the North Sea and commence a five-year firm contract with BP Norge for plug and abandonment work on Valhall field in the Norwegian North Sea. The estimated contract value for the firm contract is $812 million, including mobilization from South Korea to Norway, but excluding cost escalation.

“With the naming of our fourth XLE jack-up, we are nearing the end of a new-building era for Maersk Drilling. Maersk Invincible will be the final XLE rig to enter our fleet. These highly advanced drilling rigs enable us to provide safe and efficient drilling operations to our customers on the Norwegian market and with the addition of Maersk Invincible, we will further strengthen our market leading position in Norway,” said Claus V. Hemmingsen, CEO of Maersk Drilling and Vice CEO of the Maersk Group.