COPENHAGEN--Danish industrial conglomerate A.P. Moller-Maersk
A/S (MAERSK-B.KO) said Wednesday its oil and gas drilling services
arm Maersk Drilling has received a two-year contract for the use of
a new ultra harsh environment jack-up rig for a drilling project in
the Norwegian North Sea.
The order, which comes from Norwegian oil company Statoil ASA
(STL.OS), has a value of around $284 million, Maersk said in a
statement.
The jack-up rig is currently being used by U.S. oil major
ConocoPhillips (COP), and the new contract will commence in direct
continuation of the present contract, which ends in either the
second quarter of 2014 or the second quarter of 2015.
"This contract improves our forward contract coverage even
further providing us with high earnings visibility. This forms a
solid basis for further growth, thus supporting our objective of
becoming a significant and stable contributor to A.P.
Moller-Maersk's profit," said Maersk Drilling Chief Executive Claus
Hemmingsen.
Maersk Drilling currently operates six jack-up rigs in the
Norwegian North sea, and a further three have been ordered and are
currently being built.
The contract with Statoil has a duration of two years and
includes an option for one additional year.
- Write to Flemming Emil Hansen at
flemming.hansen@dowjones.com