Maersk Drilling's Heydar Aliyev Semisub Contract with BP Extended to 2016

Maersk Drilling reported Friday that it has been awarded a 5-year contract extension for the Heydar Aliyev (mid-water semisub) with BP Exploration (Shah Deniz) Limited acting as Operator of the Shah Deniz field. The rig will continue working on the development of the Shah Deniz field in the Caspian Sea offshore Azerbaijan. The extension is in direct continuation of the current contract ending May 2016 and extends the contract until May 2021. The estimated value of the contract extension is up to $523 million.

“We are very pleased with the extension for the Heydar Aliyev rig and look forward to continue our long standing cooperation with BP,” says Claus V. Hemmingsen, CEO in Maersk Drilling and member of the Executive Board in the Maersk Group, and continues:

“With this contract we continue to build our contract backlog providing further revenue visibility. It is very encouraging that we continue to build backlog in this very challenging market.”

The Heydar Aliyev rig (formerly known as Maersk Explorer) was delivered in 2003 and is designed for year-round operations at water depths from 147 feet to 3,280 feet (40 meters to 1,000 meters).

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
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 www.riglogix.com.
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Deepwater Roustabout
Expertise: Roustabout
Location: Houma, LA
 
Experienced Floorhand
Expertise: Floorhand / Roughneck
Location: Dickinson, ND
 
Drill Rig Operator
Expertise: Directional Driller|Driller|Drilling Foreman / Drilling Supervisor
Location: Sand Springs, OK
 
search for more jobs

Brent Crude Oil : $50.97/BBL 1.53%
Light Crude Oil : $48.75/BBL 1.79%
Natural Gas : $2.92/MMBtu 0.68%
Updated in last 24 hours