Maersk Drilling and Aker BP have entered into a rig swap agreement that will add millions to the former’s revenue backlog.
Under the deal the Maersk Reacher jack-up rig is to be replaced by the low-emission Maersk Integrator offshore Norway by early March.
The Maersk Integrator will be prepared for well intervention and stimulation activities at the Valhall and Hod fields.
The previously announced Maersk Reacher work scope will be transferred over, with an added scope estimated to eight months,
It means that the Maersk Integrator will be tied up until January 2023.
The contract swap arrangement will add about £21 million to Maersk Drilling’s revenue backlog.
Morten Kelstrup, Chief operating officer of Maersk Drilling, said: “We’re delighted to confirm this contract following the news in December 2021 about our agreement to renew the frame agreement with Aker BP.
“Maersk Integrator will be employed to assist with the continued development of the Valhall and Hod fields, building on the excellent groundwork laid by the Maersk Reacher team in our collaboration with Aker BP.
“Our collaboration has provided ample proof that by working closely together based on shared incentives, we’re able to produce remarkable efficiency gains to the benefit of all parties, lowering emissions and cost per barrel.”
Maersk Integrator is an ultra-harsh environment jack-up, designed for year-round operations in the North Sea.
Kitted out with hybrid, low-emission upgrades, it was delivered in 2015 and is currently warm-stacked in Åmøyfjorden outside Stavanger, Norway.
The rig completed a drilling campaign for Aker BP in November 2021.
Tommy Sigmundstad, SVP drilling & wells at Aker BP, said: “Aker BP’s commitment to this rig swap arrangement and contract for Maersk Integrator means we expect a further increase in efficiency for the intervention and stimulation activities at the Valhall and Hod fields.
“The contract is another testament to the joint team’s ability to find a win-win solution in the current market conditions.”