Petrogas awards Maersk Drilling three-well contract in the Dutch North Sea

11/5/2020

Maersk Drilling has secured a contract from Petrogas E&P Netherlands B.V. for the harsh environment jack-up rig Maersk Resilient to drill three wells at the B13 and A12 fields in the Dutch sector of the North Sea. The contract is expected to commence in November 2020 and has an estimated duration of 110 days. The firm contract value is approximately USD $9.4m.

The parties have further agreed that Maersk Drilling will be given exclusive options to work on a selected number of Petrogas’ planned projects in the Dutch sector in 2021 and 2022.

“The three-well contract and the exclusivity agreement are yet another testament to our strong relationship with Petrogas. We are very pleased to be given the opportunity to continue our great collaboration and leverage the design of our R-class rig capabilities to support Petrogas’ business in one of their core markets in the Netherlands,” says Claus Bachmann, Head of North Sea Division in Maersk Drilling.

Separately, the previously agreed contract with Petrogas North Sea Ltd for the drilling of one well at the Birgitta field in the UK sector of the North Sea will be cancelled and Maersk Drilling will receive compensation via a termination fee. Maersk Drilling retains an exclusive option with Petrogas North Sea to drill the Birgitta well in 2021 at rates reflecting the expected 2021 market.

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