Maersk Drilling Extends Reach to Guyana

Maersk Drilling Extends Reach to Guyana
CGX Resources has contracted the Maersk Discoverer for an exploration well. PHOTO SOURCE: Maersk Drilling

CGX Resources Inc. (OTCMKTS: CGXEF) has contracted the Maersk Discoverer semi-submersible rig for one exploration well in the Corentyne Block offshore Guyana, Maersk Drilling (CPH: DRLCO) reported Thursday.

A company spokesperson also confirmed to Rigzone the award represents Maersk Drilling’s first contract offshore Guyana.

“It’s the first time we are working for CGX and we are honored to join forces with their team in the Caribbean Basin,” Morten Kelstrup, chief operating officer of Maersk Drilling, remarked in a written statement. “Guyana is home to some very promising offshore projects and it’s close to our other customers and projects in the region.”

Maersk Drilling stated that it expects the estimated 75- to 85-day contract for operator CGX and co-venturer Frontera Energy Guyana Corp. (OTCMKTS: FECCF) to commence in the third quarter of this year, adding the award directly continues the rig’s current work scope. The firm added the contract includes one firm well in the Corentyne Block and an optional, estimated 40-day well in the Demerara Block.

The drilling contractor also noted that it is in talks with CGX to add more services and performance incentives to the work scope.

“The D-rig series is particularly well suited to fill special niches around the Americas with its versatile capabilities of both being able to work in a moored and a dynamically positioned mode,” Kelstrup said of the DSS-21 column-stabilized dynamically positioned semisub. “With this contract, Maersk Discoverer is fully booked throughout 2021 allowing us to continue to build and leverage the experience of the crew as well as the special technical characteristics of the rig.”

The Maersk Discoverer, currently operating offshore Trinidad and Tobago at the Matapal project for BP (NYSE: BP), can operate in up to 10,000 feet (3,048 meters) of water. Maersk Drilling noted the rig will return to Trinidad and Tobago after the CGX contract to commence a subsequent contract for Shell (NYSE: RDS.A) unit BG International.

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