MAERSK DRILLING SELLS MAERSK GIANT JACKUP

November 10, 2018

Maersk Drilling has entered into an agreement to sell the jack-up rig Mærsk Giant to an Australasian-based independent O&G operator. The transaction is expected to close before end of 2018.
Maersk Giant was delivered in 1986, and the rig is currently stacked in Esbjerg, Denmark. The new owners expect to use the rig for their Australasian operations.
“The sale is part of our fleet optimization in line with our strategic priority of maintaining a fleet of modern, high-quality assets. Given the limited prospects for Maersk Giant, we believe a sale creates the highest shareholder value”, says Jesper Ridder Olsen, CFO of Maersk Drilling.
In 2015, Maersk Drilling decommissioned the jack-up Maersk Endurer (delivered in 1984), and in 2016, Maersk Drilling converted the jack-up Maersk Guardian (delivered in 1986) from a drilling rig to an accommodation rig.
Maersk Giant is a 350 ft Hitachi Zosen jackup built in Japan in 1986. (Source: Maersk Drilling)