MAY 31 2016 — Sembcorp Marine's Jurong Shipyard, has delivered the high-specification jack-up rig Maersk Highlander (formerly known as Hercules Highlander) to Maersk Highlander UK Ltd.
This follows the announcement last week by troubled Hercules Offshore that, as part of an ongoing restructuring process, it had entered into a definitive agreement to transfer the right to acquire the rig to a subsidiary of Maersk Drilling that would see Maersk Highlander UK settle the final payment of approximately $196 million with Jurong.
Maersk Drilling said that the rig will be mobilized to the North Sea to commence a five-year drilling contract with Maersk Oil and its partners, BP and JX Nippon, on the Culzean gas field offshore UK. The value of the five-year drilling contract is approx. $420 million, including a mobilization fee of $9 million.
"This agreement represents an opportunity for Maersk Drilling to acquire a newbuild harsh environment jack-up backed by a firm long-term contract. We look forward to working with Maersk Oil and its partners on the Culzean gas field," said Claus V. Hemmingsen, CEO of Maersk Drilling and member of the Maersk Group Executive Board.
The rig is a Friede & Goldman JU2000E design, categorized as a 400 ft rig, with 30,000 ft drilling depth and HPHT (High Pressure High Temperature) capabilities. The rig has accommodation capacity for up to 150 personnel.,