Maersk Exercises Option for Continued Use of Safe Esbjerg Unit

Maersk Oil & Gas has exercised the second of two six-month options available for continued use of the Safe Esbjerg accommodation jackup. Total value of the exercised option period is about EUR 8.2 million.

The exercised six-month option will commence immediately after the existing firm period and continues through June 29, 2009. Thereafter, Safe Esbjerg will start the recently awarded two-year contract with one-year option for Maersk Oil & Gas AS at the same field in the Danish sector of the North Sea.