Maersk sells Venezuela offshore drilling subsidiary

Offshore staff

COPENHAGEN, Denmark – Maersk Drilling is selling its drilling barge business in Venezuela to Panama-based investment company Barrystar Holding.

Maritime Contractors Venezuela S.A. (MCVSA) assets comprise ownership and operation of 10 cantilevered offshore drilling barges working on Lake Maracaibo in Venezuela. All are on contract withPDVSA.

Claus V. Hemmingsen, CEO of Maersk Drilling, said: “The divestment…is in line with our strategy of focusing on developing and growing our core activities within theultra-deepwater and ultra-harsh environment segments.”

The company has been operating inVenezuela since 1992.

09/17/2014