Maersk Drilling (CPH: DRLCO) has secured a new contract for its Maersk Resolute jack-up with the Dutch unit of Petrogas, which will see additional wells added to its scope.
The contract amends a previous agreement struck earlier this year which saw the Resolute employed to plug and abandon (P&A) 31 wells in the Dutch sector of the North Sea, as part of rig-sharing agreement between Petrogas and TotalEnergies.
The new $24 million contract replaces an optional extension, and will see the rig secured to drill five additional wells off the Netherlands – three at the A15 field and two at the B10 field – following its P&A work.
The drilling contract is expected to commence in Q1 2024, in direct continuation of the rig’s previous work scope, with an estimated duration of 188 days.
Maersk Drilling said the $24.3m fee includes an agreed fee for the use of the rig’s selective catalytic reduction (SCR) system. which uses ammonia injection to convert NOx into harmless water and nitrogen, expectedly reducing NOx emissions by up to 98%.
Other provisions include potential increases to the day rate depending on market conditions, and a further one-well option at the end of the contract.
“We’re pleased to confirm that Maersk Resolute will continue on a drilling campaign after completing its current plugging and abandonment work scope. This contract is yet another testament to our excellent collaborative relationship with Petrogas, which includes a shared commitment to protecting the environment – something that has a particularly high priority in operations in the Dutch North Sea,” said chief operating officer Morten Kelstrup.
Maersk Drilling is set to conclude its long-running merger with Noble Corporation next month, following delays as a result of investigations by the UK’s competition watchdog.
Having now cleared the hurdle, the deal is set to complete on 3 October, with new shares listed and trading on Nasdaq Copenhagen.
Noble’s listing on NYSE is expected to take place “on or about” 30 September 2022.
Estimates last year expect the deal to create a drilling industry giant, valued at up to $3.4 billion.
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