Maersk Drilling’s second drillship, Maersk Valiant, was delivered Wednesday 16 April 2014 from the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South-Korea. Maersk Valiant has begun its voyage towards the US Gulf of Mexico via Singapore to commence a two year contract with ConocoPhillips (NYSE: COP) and Marathon Oil Corporation (NYSE: MRO).

Maersk Valiant is the second in a series of four ultra deepwater drillships to enter Maersk Drilling’s fleet. The four drillships represent a total investment of USD 2.6bn and will be delivered from the SHI shipyard in 2014.

Maersk Drilling has been active in the US Gulf of Mexico since 2009 with the ultra deepwater semi-submersible Maersk Developer. With Maersk Viking and Maersk Valiant entering the US Gulf of Mexico, Maersk Drilling is becoming a significant drilling contractor in the US Gulf of Mexico, which together with West Africa, are the target regions for Maersk Drilling’s deepwater activities. The estimated contract value with ConocoPhillips and Marathon Oil Corporation for Maersk Valiant is USD 694m including mobilisation, but excluding cost escalation.

About the new drillships from Maersk Drilling

Featuring dual derrick and large subsea work and storage areas, the design allows for efficient well construction and field development activities through offline activities. With their advanced positioning control system, the ships automatically maintain a fixed position in severe weather conditions with waves of up to 11 metres and wind speeds of up to 26 metres per second. Special attention has been given to safety on board the drillships. Equipped with Multi Machine Control on the drill floor, the high degree of automation ensures safe operation and consistent performance. Higher transit speeds and increased capacity will reduce the overall logistics costs for oil companies.

About Maersk Drilling

Maersk Drilling has an ambition of becoming a significant and stable contributor to the A.P. Moller - Maersk Group with a profit (NOPAT) of USD 1bn by 2018, while conducting incident free operations. Maersk Drilling provides high-efficiency drilling services to oil companies around the world. In addition to the two drillships and three jack-up rigs in order, the modern fleet counts 19 drilling rigs including deepwater semi-submersibles, drillships and high-end jack-up rigs. Maersk Drilling was established in 1972 and employs an international staff of 4,000 people and generated a profit of USD 528m in 2013.