Maersk Drilling signs two-year multi-service jackup contract with Aker BP

Maersk Drilling has signed a new two-year contract with Aker BP. Maersk Reacher will be deployed as an accommodation rig, with the option of repurposing the rig for plugging and abandonment for the final phase of the contract. The rig is expected to commence operations in its new role by October 2018. The flexible contract is agreed upon in continuation of the alliance between Maersk Drilling and Aker BP where the parties have committed to align incentives and co-create optimal solutions.

“Like Aker BP, we see great value in working closely together, and the benefit is obvious in this contract where adaptability to the customer’s needs is key for Aker BP to be able to make a long-term commitment,” Morten Kelstrup, CCIO of Maersk Drilling, said. “Maersk Drilling is fully committed to providing smarter drilling for better value to our customers, and the Maersk Reacher contract demonstrates that the alliance framework we have entered with Aker BP enables us to identify mutually beneficial solutions.” 

Maersk Reacher provides Aker BP with an accommodation capacity of 85 personnel on board. It is being reactivated from warm-stacking in Invergordon, Scotland, and will now return to Norwegian waters where the rig will be deployed at the Valhall East field, with a fixed contract length of two years. Rather than simply committing to two full years of accommodation costs, Aker BP has the option to repurpose the Reacher for plugging and abandonment for the final six months of the contract.

“We’re happy to once again turn our long-standing strong relationship with Maersk Drilling into a contract for our mutual benefit” Karl Johnny Hersvik, CEO of Aker BP, said. “We value close cooperation with contractors, and in this case, it lays the ground for a flexible agreement where we take full advantage of the possibilities the Maersk Reacher offers.”

Maersk Drilling and Aker BP entered the joint jack-up alliance in November 2017. The alliance aims at increasing profitability for the partners and is formalized in a five-year agreement with the option to extend for an additional five years.