Tullow Terminates Maersk Drillship Contract

Tullow Terminates Maersk Drillship Contract
This photo shows the Maersk Venturer drillship. PHOTO SOURCE: Maersk Drilling

Maersk Drilling reported that Tullow Ghana Ltd. will terminate its contract for the Maersk Venturer drillship approximately 19 months early.

“Since February 2018, Maersk Venturer has worked for Tullow offshore Ghana with an expected end of contract in February 2022,” Maersk Drilling noted in a written statement. “The rig is now expected to end the contract in June 2020.”

According to Maersk Drilling the early termination will reduce its revenue contract backlog by $175 million over the approximately 19-month span. The company added that, subject to commercial prospects, it will take measures to reduce the drillship’s operating costs after the contract period ends.

As Rigzone reported in January 2018, Tullow had secured the Maersk Venturer for a four-year contract covering developmental drilling on the Jubilee and TEN fields offshore Ghana. A Maersk Drilling executive noted at the time that it was the company’s first contract with Tullow’s Ghana subsidiary.

Capable of operating in 12,000 feet (3,657 meters) of water and drilling to 40,000 feet (12,000 meters), the Maersk Venturer can accommodate 230 people, according to a description of the drillship on Maersk Drilling’s website.

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


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