Maersk Drilling sells jack-up ‘Mærsk Giant’

Source: press release, 9 November 2018

‘Mærsk Giant’ was delivered in 1986
‘Mærsk Giant’ was delivered in 1986 (photo: Maersk Drilling)

Maersk Drilling has entered into an agreement to sell the jack-up rig Mærsk Giant to an Australasian-based independent oil and gas operator. The transaction is expected to close before end of 2018.

Mærsk Giant was delivered in 1986, and the rig is currently stacked in Esbjerg, Denmark. The new owners expect to use the rig for its Australasian operations.

“The sale is part of our fleet optimisation in line with our strategic priority of maintaining a fleet of modern, high-quality assets. Given the limited prospects for Mærsk Giant, we believe a sale creates the highest shareholder value,” says Jesper Ridder Olsen, CFO of Maersk Drilling.

In 2015, Maersk Drilling decommissioned the jack-up Mærsk Endurer (delivered in 1984), and in 2016, Maersk Drilling converted the jack-up Mærsk Guardian (delivered in 1986) from a drilling rig to an accommodation rig.