Brunei Shell purchases Maersk Drilling's Convincer rig for $42.5 million

[ASEAN NOW Content Team]

 

The rig has been operating off the coast of Brunei Darussalam since 2017, and the all-cash sale reduces Maersk Drilling's jack-up fleet to ten vessels, including eight floaters.

It comes as Maersk Drilling tries to focus on North Sea activities and push through a merger with Noble Drilling, despite the fact that the Southeast Asian market is "not crucial" to the company.

The merger has hit a snag with UK competition authorities, and the companies announced this week that they want to sell off some rigs to get around it.

 

"This transaction will contribute to the optimization of our fleet in line with Maersk Drilling's strategic priorities of maintaining a fleet of modern, high-end assets and concentrating our jack-up activities in the harsh environments of the North Sea," said Christine Morris, Maersk Drilling's chief financial officer.

"While the sale ends an era of proud operations and exemplary collaboration with BSP – a joint venture between the government of Brunei Darussalam and the Shell group of companies – during which our rigs have won multiple Shell Group Jack-up of the Year awards, the Southeast Asian jack-up market is not critical to us."

According to the company, the sale of Maersk Convincer has no impact on its financial forecast for 2022.