Repsol to make use of one-well option for Maersk drillship

Spanish oil company Repsol has exercised a one-well option under its contract for the Maersk Drilling-owned drillship Maersk Valiant for operations offshore Mexico.

Maersk Valiant
Maersk Valiant / Image source: Maersk Drilling

However, Maersk Drilling said on Wednesday that Repsol would not make use of the second one-well option included in the original contract from June 2019 for the 2014-built Maersk Valiant.

Repsol has now exercised a one-well option with an estimated duration of 70 days. The option is expected to begin in August 2020, in direct continuation of the rig’s current work scope. The contract is scheduled to end in September 2020.

Following the contract with Repsol, the Maersk Valiant is scheduled to start working for Noble Energy in Colombia, starting in October 2020. The contract has an estimated duration of 65 days and a contract value of $18.2 million, including mobilization and demobilization fees.

The Maersk Valiant is a high-specification 7th generation drillship with integrated MPD capability which was delivered in 2013.

Furthermore, the Maersk Integrator jack-up rig has been awarded an extension from Aker BP in Norway with a minimum contractual duration of 93 days in direct continuation of the rig’s current work scope. The extension has a firm value of approximately $25.5 million, excluding a potential performance bonus.

Under this extension, the rig will work for Aker BP offshore Norway from November 2020 until January 2021 with a dayrate of $275,000.

Offshore Energy Today Staff

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