Maersk Angolan Contract Extended

Monday, October 20, 2014

Chevron’s Angolan subsidiary, Cabinda Gulf Oil Co., extended the contract for ultra deepwater semi-submersible Maersk Deliverer another two years, expiring in June 2017. The rig has been located on the Tambua Landana offshore field since 2012.

The estimated value of the extension is around $387 million plus compensation for cost escalations over the contract period. Maersk CEO Claus V. Hemmingsen said, “’We are very pleased to be able to extend our relationship with Chevron on this project, and look forward to a continued successful drilling operation. With its high growth potential Angola is a focus market of Maersk Drilling, and our ambition is to further build our position in this market over the coming years.”

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