Equinor Energy AS exercised an option to add one additional development well at Martin Linge oil and gas field, offshore Norway, to the work scope of the low-emission Maersk Intrepid ultra-harsh environment jackup rig (OGJ Online, Apr. 30, 2020; Sept. 8, 2020) .
The contract has an estimated duration of 80 days, with work expected to commence in September 2021 in direct continuation of the rig’s current work scope in Martin Linge. The value of the extension is about $29.5 million, including integrated services provided, but excluding potential performance bonuses.
The extension is under the Master Framework Agreement between Equinor and Maersk Drilling, in which the parties have committed to collaborate on technology advancements and further initiatives to limit greenhouse gas emissions. As the first of Maersk Drilling’s rigs to be upgraded to a hybrid, low-emission rig, in late 2020 Maersk Intrepid produced an initial data point of reducing fuel consumption and CO2 emissions during drilling operations by about 25%, compared to the baseline average for the rig, while NOx emissions were reduced by about 95%.
Equinor is operator at Martin Linge (70%) with partner Petoro AS holding the remaining 30%.
