Press Release: Maersk Drilling and Aker BP agree to renew the framework agreement with a five-year commitment for two jack-up platforms

Today, Maersk Drilling and Aker BP reached an agreement to renew and extend the framework agreement which establishes Maersk Drilling as a jack-up drilling partner.

The agreement reached today confirms the commitment of Aker BP and Maersk Drilling to renew the framework agreement for a period of five years and includes a commitment from Aker BP to supply jack-up platforms in ultra-hard environment Maersk Integrator and Maersk Invincible for the activities off Norway during this period.

The revised configuration will allow Aker BP to assign the two platforms to multiple operations with versatile use of the platforms during the period of the framework agreement. Different pricing structures will apply during the period, reflecting different modes of operation, agreed incentive programs and market developments. During the framework agreement’s renewal period, the five-year commitment for both platforms is expected to have a combined total contract value of around $ 1 billion.

“We are absolutely delighted to reaffirm our commitment to Aker BP for another five years and to achieve major scope additions during these five years. Working in such a collaboration has a long history of setting new standards for what is achievable in offshore. drilling, producing remarkable efficiency gains at many stages of the drilling campaigns and thus adding significant value creation for all parties involved. further on our now well-established bases, we will be able to obtain even better results ”, says CEO Jørn Madsen of Maersk Drilling.

“This commitment from Aker BP to renew the framework agreement with Maersk and a long-term horizon for Maersk Invincible and Maersk Integrator reflects the value of our relationship, as we work with our strategic partners to reduce waste and the footprint. carbon while reducing the cost per barrel. Strategic alliances in addition to the digitization strategy are key catalysts of our ambitious improvement program ”, says Tommy Sigmundstad, SVP Drilling & Wells at Aker BP.

Several work perimeters in place from 2022
As part of the renewed framework agreement (as mentioned above), Aker BP has awarded a conditional award letter (“LOA”) for the supply of Maersk Integrator and Maersk Invincible for different scopes of work on cruises off Norway, with varying durations during the period from mid-2023 to end-2027.

The contracts will be delivered under the terms of the renewed framework agreement, which includes the provision of integrated services and performance bonus programs rewarding operational efficiency and emission reductions.

Maersk Invincible will receive low emission upgrades
Further to the framework agreement, Aker BP and Maersk Drilling have also entered into a hybrid investment case, under which Maersk Drilling will equip the Maersk Invincible ultra-hard environment jackup with stakes Low-emission hybrids similar to those previously installed on Maersk Intrepid and Maersk Integrator.

The upgrades combine the use of hybrid energy with NOx conversion units, adding energy efficiency software to monitor and further reduce energy use and CO2 emissions. In its first month of operation with the equivalent full set of upgrades installed, Maersk Intrepid produced an initial data point of reduced fuel consumption and CO2 emissions by approximately 25% compared to the benchmark average for the platform. In addition, NOx emissions have been reduced by around 95%.

Maersk integrator is a CJ70 XLE jack-up platform in an ultra-harsh environment, designed for year-round operations in the North Sea and featuring low-emission hybrid upgrades. It was delivered in 2015 and is currently hot stacked in Åmøyfjorden near Stavanger, Norway, having recently completed a drilling campaign for Aker BP.

Maersk Invincible is a CJ70 XLE jack-up platform in an ultra-harsh environment designed for year-round operations in the North Sea with the ability to operate on shore power. It was delivered in 2016 and is currently operated for Aker BP off the coast of Norway.

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