Maersk Drilling, Aker BP in Jack-Up Rig Swap Deal

Danish offshore oil and gas drilling company Maersk Drilling and the Norwegian oil company Aker BP have entered into a rig swap agreement .

Under the agreement, the jack-up rig Maersk Reacher will be replaced by the low-emission jack-up rig Maersk Integrator offshore Norway end-February/early March 2022.

Maersk Integrator will be prepared for well intervention and stimulation activities at the Valhall and Hod fields. 

"The previously announced Maersk Reacher work scope will accordingly be transferred on to the Maersk Integrator with an added scope estimated to eight months, which means that Maersk Integrator will be employed until January 2023. This contract swap arrangement will add approximately USD 29m to Maersk Drilling’s revenue backlog," Maersk Drilling said.

"We’re delighted to confirm this contract following the news in December 2021 about our agreement to renew the frame agreement with Aker BP. Maersk Integrator will be employed to assist with the continued development of the Valhall and Hod fields, building on the excellent groundwork laid by the Maersk Reacher team in our collaboration with Aker BP. Our collaboration has provided ample proof that by working closely together based on shared incentives, we’re able to produce remarkable efficiency gains to the benefit of all parties, lowering emissions and cost per barrel,” said Morten Kelstrup, COO of Maersk Drilling.

"Aker BP’s commitment to this rig swap arrangement and contract for Maersk Integrator means we expect a further increase in efficiency for the intervention and stimulation activities at the Valhall and Hod fields. The contract is another testament to the joint team’s ability to find a win-win solution in the current market conditions,” says Tommy Sigmundstad, SVP Drilling & Wells in Aker BP.

Maersk Integrator is an ultra-harsh environment CJ70 XLE jack-up rig, designed for year-round operations in the North Sea and featuring hybrid, low-emission upgrades. It was delivered in 2015 and is currently warm-stacked in Åmøyfjorden outside Stavanger, Norway after completing a drilling campaign for Aker BP in November 2021.