Based on the previously announced Conditional Letter of Award, Maersk Drilling has been awarded a contract from Tullow Ghana Ltd. (Tullow) for the provision of the ultra-deepwater drillship Maersk Venturer and additional services for a development drilling campaign at the TEN and Jubilee fields offshore Ghana. The contract commenced in April 2021, with an estimated duration of around four years. The estimated contract value is approximately USD 370m, excluding additional services provided and potential performance bonuses.

The contract has a progressive day rate structure for the full duration. However, the contract contains certain provisions which, after an initial period of 18 months, permit a shift to a market-linked day rate structure and early termination for convenience by Tullow Ghana Ltd.

“We’re thrilled to have firmed up this long-term contract for Maersk Venturer, bringing it back to a basin where the rig and its crew previously performed stable and highly efficient operations for Tullow. We’re delighted to have started up operations again in Ghana where we will continue our work with the Ghanaian community, our partner Rigworld and other local suppliers who have contributed to our successful operations in the region,” says CEO Jørn Madsen of Maersk Drilling.

Maersk Venturer is a high-specification 7th generation drillship which was delivered in 2014. It is currently operating at the Jubilee field offshore Ghana.

About Maersk Drilling A/S

Maersk Drilling designs, develops and operates a global fleet of advanced drilling rigs using cutting-edge technology and know-how. Our modern fleet counts 24 drilling rigs including drillships, deepwater semi-submersibles and high-end jack-up rigs. We create value with our customers through a unique service delivery concept where we customise safe, efficient and consistent drilling services. We build our service around our highly skilled and committed workforce, our state of the art offshore drilling rigs and our 40 years of experience operating in the most challenging.

About Tullow Oil plc

Tullow is a leading independent oil & gas, exploration and production group, quoted on the London, Irish and Ghanaian stock exchanges (symbol: TLW). The Group has interests in over 70 exploration and production licences across 14 countries in Africa and South America.