Offshore Brazil Operator Adds Two Wells to Contract

Karoon Energy Ltd (OTCMKTS: KRNGF) has exercised an option to add the drilling of two development wells at the Patola field offshore Brazil to the Maersk Developer rig’s work scope, Maersk Drilling (CPH: DRLCO) reported Thursday.

The firm 120-day contract extension for the semi-submersible, worth an estimated US$27 million, augments a pioneering award for Maersk Drilling that enabled the drilling contractor to enter the Brazilian market. The additional work scope shores up the rig’s drilling program for 2022, Thomas Lysgaard Falk, Maersk Drilling’s International Division head, observed in a written statement emailed to Rigzone.

“We’re looking forward to establishing a strong and integrated teamwork focused on reaching the common objectives in our campaign with Karoon in support of their first new development project as a production company,” remarked Falk. “The first item on the agenda is the safe and efficient workover of four wells at Baúna before Maersk Developer will move on to drill at Patola.”

Currently operating in Suriname for recently renamed TotalEnergies (NYSE: TOT), Maersk Developer can operate in up to 9,840 feet (3,000 meters) of water and drill to 32,800 feet (10,000 meters), according to rig specs on Maersk Drilling’s website.

“We are very pleased to continue to build our partnership with Maersk Drilling through extending our contract with them,” commented Julian Fowles, Karoon’s CEO and managing director. “The Patola development will add materially to our production base and the final investment decision made today represents a key milestone for Karoon in Brazil. The Karoon team looks forward to working closely with Maersk Drilling to deliver both the Baúna workover campaign and the Patola Project safely and efficiently.”

To contact the author, email mveazey@rigzone.com.