Hess extends contract for jack-up Maersk Resolute

  • Business & Finance

Maersk Drilling has informed that Hess has exercised the four one-well options included in the current contract for the jack-up rig Maersk Resolute.

Maersk Drilling says that each of the four additional wells has an estimated duration of around 90 days implying an extension of the current contract by one year.

The current seven firm wells programme is expected to end by April 2015. With the exercising of the four one-well options, the rig will be employed until April 2016.

According to the company, the estimated value of the extension is approximately $75 million.

Maersk Resolute is the second in a series of four high efficiency 350ft jack-ups delivered in 2008-2009.

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