Maersk Drilling completes ‘Mærsk Giant’ jack-up sale

Source: press release, 21 June 2019

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

Maersk Drilling has completed the sale of jack-up rig Giant (formerly named Mærsk Giant) to the LOTOS Petrobaltic Group. The new owners will use the rig for drilling solely in the Baltic Sea, for jobs involving the LOTOS Petrobaltic Group and other contracting parties.

“After reviewing different options, we believe that a sale of Giant creates the highest shareholder value. The rig was built in 1986 and the sale is part of our fleet optimisation in line with our strategic priority of maintaining a fleet of modern, high-quality assets,” says CFO Jesper Ridder Olsen of Maersk Drilling.

Maersk Drilling will recognise a single-digit USD million pre-tax gain on the sale.