Norwegian offshore oil company Aker BP has awarded the Maersk Integrator jack-up drilling rig a contract for work at the Ivar Aasen field offshore Norway.
Maersk Drilling, the rig's owner, said Monday that the Maersk Integrator would move to the Ivar Aasen in direct continuation of its current contract.
The rig will drill two wells, and the work is expected to begin in October 2020.
"The extension has an estimated duration of 93 days and a contract value of approximately USD 25.5m, excluding a potential performance," Maersk Drilling said.
This sets the day rate at around $274,193, a slight increase compared to the rig's current contract with Aker BP, estimated at $272,500.
The contract includes an additional one-well option. Maersk Integrator is contracted under the terms of the alliance agreement Maersk Drilling entered into with Aker BP and Halliburton in 2017.
The tripartite alliance uses a shared incentive model, thereby securing mutual commitment to collaborate to reduce waste and deliver value. Contracts under the alliance are based on market-rate terms but add the possibility of an upside for all parties, based on actual delivery and performance, Maesk Drilling explained.
"We are thrilled to be able to firm up activities for Maersk Integrator in 2020 by continuing to work closely together with Aker BP in an alliance which is enabling new ways of working across the value chain. The alliance is enhancing efficiency through increased coordination and involvement, and we are starting to see the first tangible results of this. Higher efficiency in itself reduces the CO2 emissions associated with a drilling campaign, and this is further improved by the low-emission upgrades Maersk Integrator will receive before it begins working at Ivar Aasen,” says COO Morten Kelstrup of Maersk Drilling.
Maersk Integrator is an ultra-harsh environment CJ70 XLE jack-up, delivered in 2015. It is currently operating offshore Norway for Aker BP. The rig is expected to perform its scheduled Special Periodic Survey in August 2020. It will undergo a series of upgrades to turn it into a hybrid, low-emission rig before moving to the Tambar field in September 2020.