Maersk Drilling to Sell Jackup

Maersk Drilling to Sell Jackup
The company has entered into an agreement to sell the Maersk Giant to an Australian-based company.

Maersk Drilling has entered into an agreement to sell its jackup Maersk Giant, the company announced Nov. 9.

Maersk did not name the company it was selling to, only that it is an Australasian-based independent oil and gas operator.  

The Maersk Giant was delivered in 1986, and the rig is currently stacked in Esbjerg, Denmark. The new owners plan to use the rig for their Australasian operations.

“The sale is part of our fleet optimization in line with our strategic priority of maintaining a fleet of modern, high-quality assets,” Maersk Drilling’s CFO Jesper Ridden Olsen, said in a company statement. “Given the limited prospects for Maersk Giant, we believe a sale creates the highest shareholder value.”

The transaction is expected close by the end of the year.

Earlier this year, A.P. Moller-Maersk announced it was pursuing a separate listing for Maersk Drilling – a move the company’s chief executive said will make Maersk Drilling one of the strongest players when it comes to the balance sheet


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