New Wave Media

January 3, 2014

BP Norway, Maersk Extend Drilling Rig Contract

BP Norway has extended the contract for the jackup Maersk Reacher by two years from September 2014 to September 2016, for an estimated value of $222 million. BP Norway has additional options to prolong the contract by up to four more years until September 2020.
 
Kosmos Energy has arranged a rig-share with BP and Maersk Drilling for the semisubmersible Maersk Discoverer.
 
The rig is expected to start drilling the FA-1 exploration well on the Foum Assaka block offshore Morocco during the first half of this year. The well is estimated to take around three months to complete.
 
According to partner Fastnet, the Foum Assaka concession could hold 360 MMboe of Pmean resources.
Kosmos EnergyBP NorwayMorocco