years

Maersk Drilling announced that Cabinda Gulf Oil Company Limited, a Chevron subsidiary in Angola,

Posted on : Saturday , 18th October 2014

 Maersk Drilling announced Thursday that Cabinda Gulf Oil Company Limited, a Chevron subsidiary in Angola, has extended the current contract for the Maersk Deliverer (UDW semisub) expiring in June 2015 by two years. Mærsk Deliverer has since 2012 been working for Chevron and its partners on the Tombua Landana field offshore Angola. With the contract extension the rig will be on contract until June 2017. The estimated revenue potential from the two-year contract extension is $387 million plus compensation for cost escalations over the contract period. “We are very pleased to be able to extend our relationship with Chevron on this project, and look forward to a continued successful drilling operation. With its high growth potential Angola is a focus market of Maersk Drilling, and our ambition is to further build our position in this market over the coming years,” says Claus V. Hemmingsen, CEO in Maersk Drilling and member of the Executive Board in the Maersk Group

 
 
 
 

Source : SPTEC Advisory

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