Maersk Drilling to recycle its drilling rig, as it completes Shah Deniz operation

Energy Materials 26 September 2022 10:44
Baku, Azerbaijan Trend News Agency Leman Zeynalova
Maersk Drilling to recycle its drilling rig, as it completes Shah Deniz operation

Recycling opportunities are being investigated for Maersk Explorer, the drilling rig of Denmark-based Maersk Drilling company, engaged in Shah Deniz gas project offshore Azerbaijan, the company told Trend.

“Regarding Maersk Explorer, the status is that the rig is cold-stacked outside Baku, and recycling opportunities are being investigated,” said the company.

Maersk Drilling noted that the current geopolitical events affecting energy supply and security have not had any significant impact on its drilling operations.

Mærsk Explorer completed its long-term contract with bp in Azerbaijan in May 2021.

Non-current assets of Maersk Drilling company in Azerbaijan stood at $105 million as of 2021, as compared to $118 million in 2020. As such, the company saw a 11.01 percent decrease in non-current assets in Azerbaijan year-on-year. The total non-current assets of the company dropped from $3.096 billion in 2020 to $2.850 billion in 2021, showing a 7.94 percent decrease.

Maersk Drilling is a leading offshore drilling operator, working everywhere from the North Sea to Ghana to Timor-Leste. It is increasingly providing third-party services and partnering with its customers on innovative technologies and new commercial models. Together, the company is reducing the complexity, cost, and risk of drilling campaigns to improve the competitiveness of offshore oil and gas for its customers.