Offshore Gabon Contract Goes to Maersk Drilling

A unit of PETRONAS (OTCMKTS: PNAGF) has awarded Maersk Drilling (CPH: DRLCO) an ultra-deepwater exploration contract in Gabon, the drilling contractor reported Friday.

PC Gabon Upstream S.A. (PCGUSA) has secured the 7th generation drillship Maersk Viking to drill an exploration well in approximately 6,890 feet (2,100 meters) of water in Block F13 offshore Gabon, Maersk Drilling noted in a written statement. Maersk added that it expects the firm one-well contract – with an estimated 60-day duration – to commence in the third quarter of this year, immediately following the drillship’s previous work scope with Korea National Oil Corp.

Maersk Drilling Chief Operating Officer Morten Kelstrup observed the PCGUSA contract represents a milestone for his company.

“We’re delighted to expand our international relationship with PETRONAS, with whom we have worked on deepwater wells in the Far East, the Americas, and now West Africa,” Kelstrup said. “We’re looking forward to conducting our first-ever campaign in Gabon.”

The Maersk Viking is currently operating offshore Brunei Darussalam, and the drilling contractor noted the rig will drill four wells for Shell Malaysia (NYSE: RDS.A) after it concludes the PCGUSA contract.

Maersk Drilling pointed out the firm PCGUSA contract value is approximately US$24 million and includes mobilization and demobilization fees.