A Review of the Nigerian Energy Industry

Keppel delivers giant Maersk jack-up

Maersk+Logo09 August 2014, News Wires – Maersk Drilling has taken delivery of the second of three giant jack-up rigs being built for it by Singapore’s Keppel Fels. The XLE-2 was delivered to the Danish owner on budget and one week ahead of schedule, Keppel said on Thursday. A naming ceremony for the unit, ordered for around $650 million, will be held in Norway in October. It will then go on a five-year charter to Det Norske Oljeselskap at the Norwegian player’s Ivar Aasen field off Norway. The so-called XL Enhanced unit will, like the other units ordered by Maersk, be capable of drilling in harsh environments. Keppel has already delivered the first unit, named Intrepid, to Maersk. It has a four-year contract with French supermajor Total worth $550 million, with four one-year extension options. That equates to a dayrate of $376,700 over the course of the firm period. The third Keppel unit will be delivered next year and has been fixed by Norway’s Statoil for work at its Gina Krog field off Norway. Apart from the three Keppel units, Maersk also ordered an XLE jack-up at South Korea’s Daewoo Shipbuilding & Marine Engineering. That unit has been contracted by BP for plug-and-abandonment work at the Valhall field off Norway under a $812 million charter, yielding a dayrate of $445,000. – Upstream

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