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Petronas Carigali Extends Maersk Convincer Deal

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Maersk Drilling reported that Petronas Carigali, the exploration and production subsidiary of Malaysia’s national oil company Petroliam Nasional Berhad, has exercised its contractual right to extend the contract for the jackup Maersk Convincer (375' ILC) by one year. Consequently, the jackup will be on contract with Petronas until mid-November 2014. As part of the drilling campaign offshore Malaysia the jackup is expected to do High-Pressure-High-Temperature drilling and Under-Balanced drilling for which the jackup is ideally suited. The estimated value of the one-year contract extension is approximately $54 million.

“We are very pleased to continue our cooperation with Petronas Carigali in Malaysia, one of the leading operators in Southeast Asia. We see this contract as a further strengthening of our relationship with Petronas and we hope it can pave the way for strengthening our position in the flourishing Malaysian market,” Claus V. Hemmingsen, CEO of Maersk Drilling and member of the executive board of the A.P. Moller – Maersk Group said.

Maersk Convincer is one of two Baker Marine 375 feet jackups in Maersk Drilling’s fleet. The rig has been working in Southeast Asia since its delivery from Jurong Shipyard, Singapore in 2008 and with Petronas Carigali since 2011.

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