Maersk Drilling with 2 new ultra deepwater drillships

By Finance

Maersk Drilling is adding two more deepwater drillships, Maersk Valiant and Maersk Venturer, to its fleet. The vessels were named Thursday morning on a special ceremony at the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South Korea. Maersk Valiant and Maersk Venturer are the second and the third in a series of 4 planned ships to be added to the Maersk Drilling’s rig fleet. The shipping company has invested USD 2.6 billion and expects all of the ultra deepwater drillships to be delivered this year.

When Maersk Valiant is delivered, a 3 year contract will obligate the ship to work on the drilling operations of the ConocoPhillips and Marathon Oil companies in the U.S. Gulf of Mexico. This contract could be extended for up to 2 years. The estimated contract for the company is USD 694 million. There is no signed contract for the Maersk Venturer.

According to Claus V. Hemmingsen, CEO of Maersk Drilling and member of the Executive Board of the A.P. Moller – Maersk Group, Maersk Drilling has plans for growing of this business initiative in conquering the ultra deepwater market. Maersk Valiant's positioning in the U.S. Gulf of Mexico is making Maersk Drilling an important contractor in the market. Maersk Drilling entered the market in 2009 and is constantly improving its position and offers better service to its customers. 

The new ultra deepwater drillships will be 228 meter long, capable of working at water depths up to 12,000 ft (3,650 m) and drilling wells of more than 40,000 ft (12,200 m). On the ships will be installed Dynamic Positioning System to maintain fixed position even in bad weather conditions with up to 11 meters waves and wind speeds up to 26 meters per second.