Maersk Extends Rig Fleet with $1.3B Drillship Order

Maersk Drilling, a business unit within the A.P. Moller- Maersk group, has declared its option to build two ultra deepwater drillships at Samsung Heavy Industries in South Korea.

The drillships are scheduled for delivery in the second and third quarters of 2014, respectively. The total project cost for the two drillships is approximately USD 1.3 billion, which includes a turnkey contract with the yard, owner furnished equipment, project management, commissioning, start-up costs and capitalized interest. Simultaneously, Maersk Drilling has obtained a new option for the construction of two additional drillships.

"We have an ambition of becoming one of the leading drilling contractors in the ultra deepwater segment and this order is another important step in taking a bigger share of this attractive market segment," said Claus V. Hemmingsen, CEO of Maersk Drilling and member of the Executive Board of the A.P. Moller – Maersk Group. "The order reflects our commitment to grow our rig fleet enabling us to serve our customers in the ultra deepwater segment on a more regular basis," Claus V. Hemmingsen continued.

Year to date, Maersk Drilling has invested USD 3.8 billion in two new jack-up rigs and four drillships.

Maersk Drilling had a revenue of USD 1.6 billion and a profit of USD 399 million after tax in 2010.

Hemmingsen sees a strong market for deepwater drilling rigs as the global demand for oil is increasing while at the same time production from mature fields is declining.

"This means that about six times the current Saudi production must be brought on stream over the next 20-25 years which will drive a solid growth in the demand for drilling services. The main part of this growth will take place in frontier areas such as deepwater," he said.

The two drillships will be of similar design to the two drillships Maersk Drilling ordered from Samsung in April 2011. The 228 meter long drill ships will be able to operate at water depths up to 12,000 ft (3,650 m) and will be capable of drilling wells of more than 40,000 ft (12,200 m).

Similar to the design philosophy on Maersk Drilling's ultra deepwater semi-submersibles the drillship design includes features for high efficiency operation including a dual derrick, which allows for parallel and offline activities. The extensive storage areas and tank capacities provide an advantage when operating in areas with less developed infrastructure and limited presence of suppliers. Together with the higher transit speed the increased capacity will reduce the overall logistics costs for the oil companies. The drillships will have accommodation capacity for 230 people.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Shop Mechanic - Grand Prairie, TX
Expertise: Customer Service|Mechanic
Location: Grand Prairie, TX, TX
Diesel Mechanic for Williston, ND!
Expertise: Mechanic
Location: Williston, ND
Branch Manager for Heavy Equipment Dealership in Mississippi
Expertise: Facilities Management|Mechanic
Location: Mississippi, United States, MS
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours