Maersk rig gets more Martin Linge work

by DailyBriefers
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Offshore drilling contractor Maersk Drilling has secured an extended well intervention scope with Equinor off Norway for the low-emission rig Maersk Intrepid.

Maersk Intrepid rig
Maersk Intrepid rig; Source: Maersk Drilling

Equinor has exercised an option to add additional well intervention work to the previously agreed work scope for the low-emission jack-up rig Maersk Intrepid at the Martin Linge field in the North Sea.

The rig owner said on Friday that the added well intervention scope has a firm duration of 31 days, which means that the rig is now contracted until February 2022. The firm value of the contract extension is approximately $10.5 million, including integrated services but excluding potential performance bonuses.

The contract extension is entered under the Master Framework Agreement between Equinor and Maersk Drilling, in which the parties have committed to collaborate on technology advancements and further initiatives to limit greenhouse gas emissions. The contract with Equinor Energy contains a performance bonus scheme based on rewarding reduced CO2 and NOx emissions.

Maersk Intrepid is an ultra-harsh environment CJ70 jack-up rig, designed for year-round operations in the North Sea and featuring hybrid, low-emission upgrades. It was delivered in 2014 and is currently operating at Martin Linge for Equinor.

Maersk Drilling was awarded a contract by Equinor for the drilling of three wells and plugging of one on the Martin Linge field back in April 2020. The contract was for an estimated duration of 339 days.

In February 2021, Equinor exercised an option to add development drilling of one additional well at the Martin Linge field to Maersk Intrepid’s work scope and, in May, Equinor also exercised the option to add well intervention work to the rig’s scope.

Equinor has recently started production from the Martin Linge oil and gas field. The expected recoverable resources were approximately 260 million barrels of oil equivalent (boe). At plateau, the field will produce around 115 000 boe per day.

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