Tullow Picks Maersk Drillship for Ghana Offshore Drilling Campaign


February 4, 2021
Maersk Venturer drillship - Credit: Tullow

Maersk Venturer drillship - Credit: Tullow

Danish offshore drilling company Maersk Drilling has received a conditional letter of award from oil company Tullow for the provision of the Maersk Venturer drillship and additional services for a development drilling campaign at the TEN and Jubilee fields offshore Ghana.

The duration of the final contract is around four years with expected start in Q2 2021. The estimated value of the final contract is around $370 million, excluding the value of the additional services provided and performance bonuses. The operation will be supported by local partner Ringworld.

"The final contract has a progressive day rate structure for the full duration of the contract. However, after the initial period of 18 months, the contract has a provision to shift to a market-linked day rate structure," Maersk Drilling said.

The final contract is conditional upon certain regulatory conditions being met. Maersk Drilling will publish an announcement upon the conclusion of a final contract, the Danish company added.

Maersk Drilling CEO Jørn Madsen said: "We’re delighted to get this opportunity to secure a long-term contract for Maersk Venturer, as Tullow once again shows confidence in Maersk Drilling’s ability to deliver stable and highly efficient operations to their major development projects in Ghana. This also means that we will be able to continue our work with the Ghanaian community and local suppliers who have previously contributed to our West African operations,”

Maersk Venturer is a 7th generation drillship delivered in 2014. It is currently warm-stacked in Las Palmas, Spain, after finishing a campaign in Ghana for Tullow in 2020.

No comments

More Popular Posts

About Crude Oil Facilitators

Crude Oil Facilitators are dedicated global brokers and facilitators of crude oil buying and selling. We work directly with crude oil buyers and crude oil sellers worldwide. We are a United Kingdom and Nigerian based firm, privately owned and devoted to the brokering of crude oil and other petroleum products buying and selling.

We have buyers and sellers of;

1. Nigerian Bonny Light Crude Oil, BLCO

2. D2 Diesel Fuel, JP54 Jet Fuel, Mazut etc.

3. Saudi Light Crude Oil, SLCO

4. Iraqi Light Crude Oil

If you are a buyer or seller of crude oil or other petroleum products or have mandate to buy or sell any of the above oil products, do contact us because we could be of help.

To contact Crude Oil Facilitators, click here ». To learn more about Crude Oil Facilitators, click here

Crude Oil Facilitators