Varco To Supply Drilling Equipment For Maersk Rig

Varco International announced that Hyundai Heavy Industries has exercised an option for another state-of-the-art harsh environment offshore drilling rig. The option for the Maersk XL2 Harsh Environment order is worth over $25 million.

The supply package will utilize Varco proprietary equipment to automate much of the drilling process, to drill more safely and more efficiently, including Varco's patented off-line pipe handling process, known as FOXHOLE(R) Technology.

Maersk Contractors and Varco jointly designed the Maersk XL2 drilling system to provide leading edge automation for a number of the drilling processes. Specific automated applications include shale shakers, centrifuges and pipe handling equipment all optimized and managed through Varco's V-ICIS drilling network. The system is e-Drill enabled which permits Internet access from shore-based support operations. Like the XL1, Maersk's XL2 rig also includes Varco's proprietary Brandt Rigtech drill cuttings transfer system.

George Boyadjieff, CEO and chairman of the board of Varco International, explained the value of the contract. "Varco is pleased to have been selected for a second new-build order for a next generation Maersk drilling jackup. This reflects Maersk's confidence in Varco's capabilities and technologies to outfit the most state-of-the-art drilling equipment in the industry. We are proud to help them pioneer new and better ways of drilling offshore."