Maersk Drilling focuses on remaining competitive

Maersk Resilient(Offshore-mag.com) – Claus V. Hemmingsen, CEO of Maersk Drilling and member of the Executive Board in the Maersk Group said: “We deliver a satisfactory third quarter result given the adverse market conditions. We continue to focus on operational performance and a competitive cost level, which are key factors in order to secure contracts for our rigs.”

In the third quarter, Maersk Drilling signed two new contracts. Maersk Resilient secured a three-year contract and Mærsk Giant received a contract for 150 days, both for work in the Danish sector of the North Sea. Furthermore, Maersk Drilling signed four contract extensions. A 16-month extension for Mærsk Innovator working in Norway, a five-year extension for Heydar Aliyev working in the Caspian Sea in Azerbaijan, a 250-day extension for Maersk Resolve in the Danish sector of the North Sea, and the latest a three-year extension for Maersk Discoverer working offshore Egypt.

At the end of 3Q 2015, Maersk Drilling’s forward contract coverage was 85% for the rest of 2015, 70% for 2016 and 49% for 2017. The total revenue backlog by end 3Q 2015 amounted to $5.8 billion.

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