Repsol hires Maersk Valiant drillship for Mexico drilling

Spanish oil firm Repsol has hired a Maersk Drilling drillship for offshore drilling in Mexico.

Maersk Valiant / Image source: Maersk Drilling
Maersk Valiant / Image source: Maersk Drilling

Maersk Drilling said on Tuesday that Repsol’s Mexican subsidiary Repsol Exploración Mexico had hired its Maersk Valiant drillship for a two-well project.

Repsol will deploy the 7th generation drillship delivered in 2013 at offshore Blocks 10 and 29 in the Gulf of Mexico.

“The contracts have an expected duration of 138 days and are set to commence in March 2020. In addition to the firm workscope, the contracts include two one-well options,” Maersk Drilling said.

Morten Kelstrup, Chief Commercial and Innovation Officer at Maersk Drilling: “We are very pleased to expand our working relationship with Repsol through this commitment, which also adds to our presence in the exciting Mexican deepwater market following the recently disclosed contract for Mærsk Developer.”

“In addition, it’s worth noting that Maersk Drilling’s entire floater fleet is now signed up for current or future work, meaning that all floaters are now activated and can be available for additional contracts with limited to no stacking period,” Kelstrup said.

The Maersk Valiant is currently warm-stacked in Port Fourchon, Louisiana. Maersk Drilling did not provide the dayrate for the deal. Bassoe Offshore estimates it to be around $175,000.

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