Maersk Drilling Secures Rig Gig from Total

Maersk Drilling has received a Letter of Award from Total E&P Norge AS for one of the two ultra harsh environment jackup rigs presently under construction in Singapore. The rig will be used for drilling the demanding and complex wells on the Hild field development in the Norwegian North Sea. The contract award is conditional upon approval of the Hild development by the Norwegian authorities. The firm contract duration is four years and the agreement also includes four one-year options. The contract value for the four-year firm period is approximately USD 550 million. The contract is expected to commence latest by third quarter 2014 upon arrival of the rig in the Norwegian North Sea from the yard in Singapore.

"We are very pleased to further strengthen our business relationship with Total which is an important client for Maersk Drilling worldwide. This first assignment for one of our newbuilding XL Enhanced jackup rigs only eight months after we placed the order confirms our strong belief in an increasing demand for modern, high capacity rigs for the Norwegian market," said Claus V. Hemmingsen, CEO of Maersk Drilling and member of the Executive Board of the A.P. Moller – Maersk Group.

To be delivered in 2014, the "XL Enhanced" design is a further enhanced version of the existing ultra harsh environment jack-ups, MÆRSK INNOVATOR and MÆRSK INSPIRER. Like their sister rigs, the two new rigs are designed to operate in the harsh environment found in the North Sea and complies with all rules and regulations in the strictly regulated Norwegian sector.

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