Offshore staff
LYNGBY, Denmark – Maersk Drilling has reached an agreement with INPEX Australia on suspending the contract for the semisubmersible Mærsk Deliverer.
The rig will remain on a suspension rate until the re-start of the contract, expected in October, with the end-date now likely pushed back to August 2023.
In addition, Maersk has received notices of early termination for the drilling contracts for the semisub Mærsk Developer and the jackups Maersk Reacher, Mærsk Innovator, and Maersk Guardian.
Based on current tender activity and discussions with clients, the company foresees only a limited number of new contracts for drilling campaigns starting this year.
Demand for campaigns beginning in 2021 is growing due to postponement of projects originally scheduled for 2020. But how many of these are converted into new drilling contracts will depend on developments in oil and gas prices, and the overall state of the oil market.
Maersk expects the market for ultra-harsh jackups to be more resilient compared to the harsh environment jackup and international floater markets.
Many stacked rigs across the offshore drilling industry continue to incur stacking costs despite unfavorable commercial prospects, the company added, suggesting a need for continued scrapping of rigs to deliver a better balance between demand and supply.
05/27/2020
