BAKU, Azerbaijan, Feb.18
By Leman Zeynalova - Trend:
Revenues of Maersk Drilling, a drilling-rig operator based in Denmark, stood at $1,096m in 2020, compared to USD 1,222m in 2019, negatively impacted by lower utilisation, especially in the North Sea segment as a result of contract terminations and general lower activity levels, Trend reports citing the company.
Despite cost reduction measures initiated, operating costs increased to USD 725m from USD 710m in 2019 primarily due to reactivation costs for previously stacked rigs, which were reactivated to commence contracts during the first half of 2020.
Revenues of Maersk Drilling in Azerbaijan stood at $110 million as of 2020, versus $79 million in 2019.
Maersk Explorer semi-submersible rig operates for Azerbaijan’s Shah Deniz gas and condensate field development under the contract with BP, which ends in May 2021.
The Istiglal rig and the Maersk Explorer have already drilled 20 wells in total, and completed 16 out of those, for Shah Deniz 2 production and subsequent ramp-up as of 2020.
The Maersk Explorer suspended the SDF05 well and commenced the SDH03 lower section drilling.
Maersk Drilling is a leading offshore drilling operator, working everywhere from the North Sea to Ghana to Timor-Leste. It is increasingly providing third-party services and partnering with its customers on innovative technologies and new commercial models. Together, the company is reducing the complexity, cost, and risk of drilling campaigns to improve the competitiveness of offshore oil and gas for its customers.
---
Follow the author on Twitter: @Lyaman_Zeyn
