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Statoil Declares Option for Maersk Developer

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Statoil on Friday reported it has declared the option included in the 4-year firm contract for the ultra deepwater semisubmersible Maersk Developer for work in the U.S. Gulf of Mexico. The duration of the option is two years with commencement on Nov. 4, 2013 when the firm contract runs out. The contract value for the option period is approximately $370 million.

"We are very pleased to continue our cooperation with Statoil, one of our key clients, for this highly advanced deepwater rig," said Claus V. Hemmingsen, CEO of Maersk Drilling and member of the Executive Board of the A.P. Moller - Maersk Group. "Having secured contracts for all our deepwater semisubmersibles until mid 2014 is a milestone in Maersk Drilling's ambition of becoming a leading provider of highly advanced ultra deepwater rigs."

Delivered in 2009, Maersk Developer is the first in a series of three state-of-the-art ultra deepwater development semisubmersibles in Maersk Drilling's fleet. Since its delivery the rig has been employed in the U.S. Gulf of Mexico.

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