Maersk signs $54 million contract with Malaysian Petronas

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Danish oil and shipping group A.P. Moller-Maersk has signed a jack-up rig contract worth about $54 million with a unit of Malaysia’s Petronas.

Maersk Drilling, a unit of the Maersk group, said on Friday that Petronas Carigali, the exploration and production subsidiary of Malaysia’s national oil company, had exercised a right to extend the contract for the Maersk Convincer rig by one year.

Consequently, the rig will be on contract with Petronas until mid-November 2014, and with the signing of the extension, Maersk Drilling’s forward contract coverage for 2013 is now 100 percent, it said.

 

Source: uk.finance.yahoo.com

 

 

 

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