Maersk Giant jackup sold to independent operator

Maersk Drilling has entered into an agreement to sell the Maersk Giant jackup to an Australasian-based independent oil and gas operator. The transaction is expected to close before the end of 2018. The new owner expect to use the rig for its 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,” Jesper Ridder Olsen, CFO of Maersk Drilling, said.

In 2015, Maersk Drilling decommissioned the Maersk Endurer jackup rig (delivered in 1984), and in 2016, Maersk Drilling converted the Maersk Guardian jackup (delivered in 1986) from a drilling rig to an accommodation rig.