Maersk Pens BP Deepwater Rig Gig Offshore Egypt

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Maersk Drilling has signed a contract with BP for the ultra deepwater semisubmersible Maersk Discoverer for work initially offshore Egypt. The firm contract duration is four years and the contract also includes an option for one year. The contract is expected to commence in the second quarter of 2012.

The maximum contract value for the firm four-year period is approximately USD 780 million (4.3 billion DKK) including mobilization fees.

"We are very pleased to enter into this contract with BP, one of the world's largest oil and gas companies. This is a good opportunity to demonstrate our skills within deepwater drilling and we hope it can pave the way for strengthening our position as a reliable contractor for BP within the deepwater segment," said Claus V. Hemmingsen, CEO of Maersk Drilling and member of the Executive Board of the A.P. Moller – Maersk Group.

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