Maersk Drilling Firms Up $100MM Contracts with Total

Maersk Drilling Firms Up $100MM Contracts with Total
The Maersk Developer is already mobilizing for the 500-day combined campaign. PHOTO SOURCE: Maersk Drilling

Total E&P Suriname (NYSE: TOT) has awarded Maersk Drilling (CPH: DRLCO) contracts securing the Maersk Valiant drillship and Maersk Developer semi-submersible rig for its exploration and appraisal project in Block 58 offshore Suriname, Maersk Drilling reported Monday.

As Rigzone reported on Nov. 24, 2020, Total had awarded Maersk Drilling a conditional letter of award for the drilling units subject to contract finalization and other conditions.

“We’re thrilled to firm up these contracts, adding further to our long-standing relationship with Total for whom we have a great track record from our collaboration on a number of deepwater exploration projects,” remarked Morten Kelstrup, Maersk Drilling chief operating officer, in a written statement emailed to Rigzone.

The drilling contractor pointed out that it expects Maersk Developer to commence operations this month, with Maersk Valiant beginning in March of this year. The contracts, with an approximately US$100 million total firm value, secure the semisub and drillship for an estimated 500-day combined total duration, Maersk Drilling noted. The company added the contracts include rig modifications, integrated services provided, a mobilization fee for Maersk Valiant and various extension options.

“We’re happy to add to our presence in the exciting Suriname-Guyana basin and will be able to leverage the fact that Maersk Developer is already operating offshore Suriname to quickly start up operations including provision of a range of integrated services to maximize efficiency,” stated Kelstrup.

The Maersk Developer is mobilizing for the Total campaign after completing a contract offshore Suriname and the Maersk Valiant is warm-stacked in Aruba, having completed an offshore Mexico campaign last June, Maersk Drilling noted.

Late last week, Rigzone reported that Total and Apache Corp. (Nasdaq: APA) had made a “‘significant’” discovery at the Keskesi East-1 well in Block 58.

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