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Boosting efficiency with

SMART DATA

The Drıllbit06 Theme: The pioneering high tech projects

12 Mærsk Gallant under pressure

14 Building the biggest jack-up rig ever

16 Flowing oil from drillship to an oil tanker

19 In the limelight with Discovery Channel

June 2016 · #2

How sensors, algorithms and processing power are reducing total well costs in offshore drilling

2 Maersk Drilling · The Drillbit · 02·2016

Thomas Vesterdorf, Denmark

40-year-old Thomas Vesterdorf works as Team Lead for the Document Control Center in Techni-cal Organisation, a role that has taken him around the world documenting yard stays. So far, Thomas has travelled to such varied locations as the US Gulf of Mexico, Invergordon, Esbjerg, Palermo, Port Elizabeth and Rotterdam, documenting yard stays on several different rigs. Since February last year he has been assigned to projects like the XLE newbuilds, the redeployment of the Inspirer, and the Guardian accommodation project.

People

The Heydar Aliyev’s football teams, Azerbaijan Whenever the Heydar Aliyev crew members have a few days to spare, they go ashore to play a good old game of friendly football. Each team has its own customised jerseys with the Maersk star

on the chest and Maersk Drilling’s logo on the abdomen. As of this moment, the teams consist exclusively of Azerbaijanis, but footballer and Roustabout on Heydar Aliyev, Isayev Javid Sabir,

urges all his Heydar Aliyev colleagues to join, regardless of their nationality.

Viktor Norstedt, Sweden

25-year-old Viktor Norstedt works as a roustabout on the Maersk Intrepid. “I love the challenges we face working off-shore. In this profession, no two days are ever the same. The conditions change all the time, and so do we.”

Maersk Drilling employs 3,965 people sharing 80 different nationalities between

them, and who are working in 13 countries. Maersk Drilling has just published

its 2015 Sustainability Report, which you can find on www.maerskdrilling.com.

The report presents Maersk Drilling’s economic, social and environmental impact

in order to document its commitment to sustainable business practices.

On these pages you are invited to explore how Maersk Drilling approaches

sustainability and how the company performs accordingly

Claus V. Hemmingsen, CEO of Maersk Drilling, Member of the Executive Board in the Maersk Group.

At the beginning of May, I visited our Houston office. I was there to meet clients, and also to present our first-quarter performance at our office in the city, which is known as the energy capital of the western world. During the week I was there, Houston hosted the biggest event in the North American oil industry – the Offshore Technology Conference. The city was buzzing with talk about the new oil reality and who will be the survivors in the adverse market.

In order to win, you need the right foundation. If you were about to run a marathon, you would make sure your body was well prepared and loaded with energy. The same goes for Maersk Drilling in this new oil environment.

That is also why I am proud that our first-quarter performance for 2016 was once again driven by a stellar operational performance averaging 97% uptime. It shows that we are resilient to what the market throws at us, and that we are able to remain focused and keep on delivering to our clients. We delivered a profit of USD 222m compared to USD 168m in the same quarter last year. Well done everybody!

The good result was positively impacted by a one-time USD 60m gain due to the early termination om Mærsk Deliverer. Also Mærsk Gallant experienced a contract cancellation during the first quarter, however, we signed a new contract for her which followed directly on from the cancellation. We certainly feel the increased pressure on our market.

This is the new oil reality we are operating in — one in which we need to build on our strong foundation of operational performance. In the last edition of Drillbit, we launched our 2020 strategy, and in this one we will take a deep dive into one of the three key capabilities that make up our competitive advantage.

CTO Frederik Smidth will take you through the world of tech-nical problem solving by employing big data, doing predictive maintenance and trying out remote controlled drilling, to men-tion just a few examples.

Finally, please remember: Always stop a job that you deem is unsafe.

WELL DONE EVERYBODY!

Social media

We would like to thank all our followers on social media for your comments, likes and shares. The profile we have online would not be possible without you, and we are very proud to be part of such a great online community. Do not forget to share your Maersk Drilling moments with the rest of us by tagging your moments #Maersk-Drilling on Instagram, or by sending us a personal message on Facebook.

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Hitching a ride to Maersk Resilient. #OurPeople #Helicopter #Offshore #SafetyFirst

Maersk Interceptor seen through a different eye. #Creative #Offshore #Sun

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When it is too foggy to land, there are no options besides going back ashore. #SafetyFirst #FoggyDays #BeautifulPicture #Offshore

3Maersk Drilling · The Drillbit · 02·2016

WORDS FROM THE CEO

Maersk Highlander has been acquired from a sub-sidiary of Hercules Offshore. The rig will leave the Jurong Shipyard in Singapore during June and arrive in Scotland where it will be mobilised to the North Sea to commence a five-year drilling contract with Maersk Oil and its partners, BP and JX Nippon, on the Culzean gas field offshore UK.

Maersk Guardian achieved a milestone by the end of February when the cantilever was safely skidded off and taken to the nearby recycling plant. The project continues in Frederikshavn, preparing Maersk Guardian for its assignment as an ac-commodation rig for Maersk Oil that starts in September. In addition to the modifications onboard the team is work-ing on manning up from the original stacking crew to the full accommodation crew.

Maersk Voyager is currently on well 11 out of an 18 well campaign for oil major ENI on the Offshore Cape Three Points project in Ghana. The campaign is ahead of schedule due to the use of full dual acti-vities and two BOP’s ( blowout preventer). The drilling cam - paign is planned to be com-pleted by the end of the year.

Maersk Viking has so far had a challenging year with several extraordinary opera-tions on top of its regular work for ExxonMobil. Maersk Viking had to complete a flowback operation on the second Julia Well in the Gulf of Mexico, then perform an intervention operation on the first well.

Mærsk Giant has finalised the operation with Dong Ener-gy on the Nini East oil field, in-cluding well testing and coiled tubing (a very long metal pipe supplied spooled on a large reel used for interventions in oil and

gas wells). The rig has recently arrived on the Siri oil field in the Danish North Sea sector and initiated work on the first of two planned wells.

Maersk Interceptor has drilled three oil producing wells and four water injection wells (wells used for injection of water into the reservoir in order to lift the oil). One of these wells has been used for extensive injection testing on the Ivar Aasen oil field in the Norwegian North Sea sector.

Maersk Resilient has been working for Maersk Oil on the Svend oil field in the Danish North Sea sector where the crew has performed workovers on several wells.

Maersk Resolve is currently operating for Dong Energy on the Hejre campaign, located in the Danish North Sea sector. The rig is perform-ing ahead of both time sched-ule and budget. The rig will be working with Dong Energy on this contract into 2017.

Maersk Integrator has so far completed each of the wells on the Gina Krog oil field in the Norwegian North Sea

OPERATIONAL OVERVIEWFrom the turbulent North Sea to the deep waters off the Uruguayan coast – Maersk Drilling operates all around the world.

Maersk Intrepid has completed the last well on the Martin Linge oil field and is presently testing the well. It is likely that it will drill a well to another structure, Herja, from the same platform.


sector more than 20 days faster than budgeted. In the first months of 2016, the team has focused on getting all new crew members fully up to speed and integrated into the team.

Mærsk Deliverer arrived in Namibia on 7 April, where it will be stacked offshore Walvis Bay. The De-liverer crew maintained high focus on safety and perfor-mance, finishing the well and demobilising without incidents and ahead of budget.

Maersk Venturer sailed from Singapore on 17 January and arrived in Uruguay on 9 March. The rig was accepted by the local authorities on 11 March.

Maersk Convincer has been stacked in the Crescent yard at Keppel Fels, Singa-pore, since November 2015. A lot of small maintenance projects have been carried out on the rig during this stacked period. In the near future the crew will kick off a big steel preservation project, lasting for several months.

Mærsk Inspirer has been tasked to convert a

water injection well (well used for injection of water into the reservoir in order to lift the oil) into an oil-producing well on the Volve oil field. Permanent plug and abandon work (clos-ing down a well and removing the wellhead) will start in June.

Maersk Completer is engaged in the so called Champion Intermediate Deep project in Brunei. The Maersk Drilling crew recently passed the Statement of Fitness As-sessment conducted by Shell Global auditors. When it comes to safety, Maersk Completer is LTI (Lost Time Injuries) free for over seven years now. The rig will be working with BSP Shell on this contract until November, 2018.

Maersk Resolute has finished up the last well for the customer, Hess, in the Danish North Sea sector. The well was handed over to production after an intensive well intervention period. The safety performance of the rig has been very good. The rig is now finalising demobilisation on location before moving to Esbjerg.

Mærsk Innovator has been drilling steadily on the Eldfisk S oil field in the Norwe-gian sector of the North Sea. Work is progressing well and the crew has been handling some challenges, which were the result of the extremely difficult soil conditions.

Maersk Discoverer has worked on development of three wells on the Raven oil field offshore Egypt in Q1, after initially drilling top holes for the customer in 2015. In the first months of 2016 the rig team has had enhanced focus on safety related issues as self-verification and dropped objects.

Heydar Aliyev is located in the Caspian Sea working for BP where the rig has recently carried out in-between well maintenance with minimal interruption to the operations. The rig recorded five years without any LTI’s (Lost Time Injuries) on 5 March.

Maersk Reacher recently completed one of the most challenging wells of the Valhall oil field in the Norwe-gian North Sea sector. The operation included a double-well (a wellhead containing

two wells side by side), one production well and one water injection well. The operation was completed without any safety issues and ahead of schedule.

Mærsk Gallant is drill-ing the Solaris exploration well. The well brings unique challenges due to its charac-teristics of extreme downhole temperature and pressure. The crew has already faced downhole challenges at the so called 16” section, but so far the drilling is progressing well, with a strong focus on safety and well control.

Maersk Developer is stacked at Grand Isle 44 offshore Port Fourchon, USA, after completing a contract with Statoil on 29 January.

XLE-4 is under construction at the DSME shipyard in South Korea.

Maersk Valiant completed the Salomon exploration well in the Gulf of Mexico for Cono-coPhillips on 30 April. The well was a 28,550 feet deep exploration well. The well was completed safely, and on 9 March the team achieved 90 days with-out any incidents.


There is an urgent need for ground-breaking technical solutions

if Maersk Drilling is to achieve its ambition to be a winner in the

new oil reality. Right now, three pioneering high tech projects are

already shaping the future.

Taking the driller’s cabin awayRemote drilling is a demonstration project in which a driller’s cabin will be built inside a container that can be placed anywhere on the rig. Given the right conditions, it might even be situated on an onshore location several hundred kilometres from the drilling rig.

What is in it for the customer? Remote drilling in combination with more and more automated drilling processes will help Maersk Drilling and its customers to in-crease safety performance and realise the vision of zero incidents. In the long run, if increasingly more drilling processes can be con-trolled from an onshore location, remote drilling will help Maersk Drilling’s customers to reduce their well costs significantly.

How does it work?

The project takes advantage of live pictures from cameras and also broadband data technology for onshore use. Remote drilling is possible because more and more drill floor operations have be-come automated. This means that there is no need for the driller’s cabin to be situated next to the drill floor. Most of the necessary technology already exists today, so one element of the project involves putting it all together and trying it out.

Long-term perspective?

The long-term goal is to make the drilling operations even safer than they are today. The very long-term goal is for nobody to be present on the drill floor, except during repair, maintenance or on very rare specialised operations. The same technology could potentially be used with, for example, deck cranes. In the long term, it might be possible to control the deck crane from another locality on the rig.

The pioneering

projects

2020 STRATEGY


6 Technical problem solving 6 Operational excellence 6 Deep customer acumen

Cruise control for drilling contractorsReal-time drilling is a potential ground-breaking technology with which the data streams from the downhole sensors (wired pipe) will be analysed in real time and online. As a consequence the equipment control system will automatically make any necessary adjustments. Maybe the speed of the top drive needs to be reduced. Maybe the output of the mud pumps needs to be adjusted to match new conditions deep down inside the well.

What is in it for the customer?The technology enables Maersk Drilling’s customers to obtain real-time data from the well construction process. Analysis of this data makes it possible to manage the drilling process much better. The result should be a lower well construction cost, and hopefully better well quality.

How does it work?

A wide variety of sophisticated sensors are placed in and around the drillbit. They gather valuable information in real time. Any changes in the geology deep down inside the well will be ob-served by the sensors. These data can be transmitted back to the drilling rig through the wired drill pipe, which enables the control systems to calculate the adjustments needed. Currently, these adjustments are executed manually.


Introducing proper real-time drilling in combination with more and more automated processes aboard the drilling rigs will in-crease the efficiency of the drilling process significantly and bring down customers’ total well cost even further.

If it ain’t broke don’t fix itPredictive maintenance is a project that strives at creating a new maintenance regime that involves moving away from a traditional calendar-based maintenance scheme. Instead Maersk Drilling is moving towards a sensor-triggered regime where you only replace a particular part when a sensor warns you that it is wearing out.

What is in it for the customer?Predictive maintenance will help Maersk Drilling to reduce its yearly financial maintenance burden significantly. This will increase Maersk Drilling’s competitiveness, thereby helping Maersk Drilling’s customers to reduce their total well cost.

How does it work?

Basically, you build a ‘digital twin’ of the equipment on the basis of historical sensor data. Then you keep comparing the real-time sensor signals to the digital twin, and when the differences grow sufficiently great, a work order with the relevant maintenance action will be triggered. Maersk Drilling is planning to run two pilot projects in collaboration with the suppliers G.E. and NOV.


The project is a part of a greater effort to limit the financial impact from yard stays and extensive maintenance tasks. This means that maintenance of the equipment will take place on site and specific parts will only be replaced when a sensor gives the signal.

Maersk Drilling · The Drillbit · 02·2016 7

The classic drilling rig is about to become digitalised.

The aim is to reduce operating costs, increase uptime and unlock currently inac-cessible resources from underground.

One of the key tools in the digital trans-formation that Maersk Drilling is striving for is sensor technology.

“Maersk Drilling has access to large amounts of data that we actually do not put to any operational or commercial use. The reason: many sensors have been put in place with the sole purpose of sending an alarm signal to the crew if anything goes wrong. Nevertheless, those thousands of sensors are gathering data 24 hours a day, 365 days a year. We can exploit those sensor-related opportunities much more extensively,” says Chief Technical Officer Frederik Smidth.

A new worldMaersk Drilling is accordingly transition-

ing into a new reality that is characterised by the ready availability of enhanced data processing power, thereby opening a door into a new world.

The algorithms that will be used are not new at all – on the contrary, they were de-veloped more than 30 years ago – but today, they can be applied much more widely and efficiently than before, thanks to high-per-formance computers and the large amount of available sensor data.

Sensors can be used for a wide variety of tasks.

Improving a drilling operation is one of the obvious ones. Another is the creation of a much more efficient and cost-effective maintenance regime.

“We have started to look into so-called condition-based maintenance, where maintenance is performed after one or more indicators show that the equipment is soon going to fail, or that its performance

is deteriorating. We now want to take that a little bit further by using the inputs from a variety of sensors to predict the need for maintenance,” says Frederik Smidth.

Immense pressureAccording to Frederik Smidth, it is para-mount for Maersk Drilling to be constantly exploring the industry’s technological pos-sibilities.

He points out that Maersk Drilling – like other drilling contractors – is under immense pressure not only to cut costs as much as possible, but also to offer new technologies for unlocking its customers’ challenges with the aim of differentiating itself in the market and turning itself into the preferred contractor.

“We do not want to end up as a com-moditised drilling service provider. Technical capabilities, highly skilled em-ployees and operational performance are

2020 STRATEGY

Five years from now, the light-blue drilling rigs will have been fully digitalised. Thousands of sophisticated sensors on every vessel will gather incredible amounts of data, paving the way for enhanced automation and a significant decrease in operating costs. By Nicolai Østergaard

Extracting treasure from sensors

Frederik Smidth Chief Technical Officer


The new oil reality is character-ised by much lower oil prices than the oil industry has been accustomed to.

Today, the engineers in the Technical Organisation collabo-rate much closer with the sales professionals in the Commercial Department than ever before.

“Things have changed rather significantly in accordance with the rapidly changing business environment in the oil industry,” states Jacob Johansen, Head of Engineering & Projects.

According to him, the Technical Organisa-tion used to spend an overwhelming share of its working hours on projects (typically in connection with modifications to existing rigs) in collaboration with the Operations Department.

“But it seems that in today’s environment the modification of rigs in operation occurs less often, whereas being swift and flexible in the bidding phase is an important enabler for participat-ing in the bid. This means that we have to become a lot more agile in our interactions with Commer-cial,” says Jacob Johansen.

Convincing customersIn the new oil reality there is an oversupply of drilling rigs in the market, and in order to win a new contract Maersk Drilling has

to convince its customers of the outstanding capabilities of the company’s drilling rigs, as well as their modifiability to meet specific requirements.

“We are now bidding for contracts on short notice and sometimes outside our ‘normal’ capabilities, or in an environment where we are not used to operat-ing,” says Jacob Johansen.

He continues: “Therefore we also

need to align ourselves better with our custom-ers technically, and leverage our technical knowledge. The prerequi-site for this is that Com-mercial and the Techni-cal Organisation have to

work together much more closely than before. It is a remarkable change, but for me as an engineer it is also a lot of fun, as it requires more ‘creative’ solutions and a more customer-oriented perspec-tive on the part of the Technical Organisation.”

The Commercial Department of Maersk Drilling bids on a high number of tenders. And in the race to secure a new contract, the Commercial Department typi-cally needs a clear answer from engineers regarding whether a particular rig can be adapted for a given customer project. Often the engineers have to decide how the drilling rig can be pressed to the limits of its specifications, but without compromising safety.

Operating outside the norm

Actively participating in a sales pitch has become a dominant activity for Maersk Drilling’s engineers.

By Nicolai Østergaard

Jacob Johansen Head of Engineer-

ing & Projects

Maersk Drilling has access to large amounts of data that we actually do not put to any operational or commercial use.

all elements in this struggle, and they all need to play together in harmony,” says Frederik Smidth.

What will happen if we do not manage to exploit these possibilities in a successful way?

“Then we will end up as a just another provider of a plain, run-of-the-mill steel structure. Accordingly, we will fail to achieve a deep collaboration with our customers. We will also fail to help our customers reduce their total well cost. And lastly, we will have failed to use our technical problem-solving capabilities to unlock currently inaccessible resources and enhance our operational and safety performance.”

From his vantage point in the Technical Organisa-tion, he sees two obstacles that Maersk Drilling must surmount in order to survive.

“It is paramount for us to figure out how to exploit the technological possibili-ties arising from big data and high-performance computer processing. But we also have a commercial challenge, in the sense that we need to get our customers on board and convince them that it is actually a good idea to engage with a drilling contractor that offers them a tech-nological edge,” concludes Frederik Smidth.

Sensors are the foundation for increased automatisation.

Increased automatisation confers an overwhelming advantage:

“At Maersk Drilling, we are looking to a future where the company is going to take on even greater responsibility on behalf of our customers. While we are doing that, we must also strive to ensure that as many processes as possible are automated in order to minimise the risks generated by our involvement.”


RED GLOW OVER THE NORTH SEA“This picture was taken after I had completed my handover with my relief,” Steve Birell recalls.Steve is a native Scotsman and tourpusher on Maersk Interceptor since 2014. “I happened to glance out the window when walking up the stairs to my cabin. Then I saw the red glow. I am a bit of an amateur photographer, and I recognised that it could

make a great photo if the sky stayed the same,” says Steve. He grabbed his camera from the cabin and the gas detector from the office. “Luckily enough the sky stayed the same, and I managed to capture the picture as the cuttings hose was being lowered in preparation for hooking up to the supply vessel.”

WHEN APRIL 18, 2016.

WHERE NORTH SEA.

WHO TOURPUSHER AND AMATEUR PHOTOGRAPHER STEVE BIRELL.


The jack-up rig Mærsk Gallant has been modified to enable it to exceed its own operational limits.

In the Solaris Project – together with the customer, Total E&P Norge – Maersk Drilling has taken a 15,000 psi rig and adapted the equipment and procedures in order to drill a reservoir

section where predicted pore pres-sures are well in excess of 15,000 psi.

15,000 psi is normally the upper limit for the well control equipment on a typical state-of-the-art drilling rig.

The demanding requirements of the customer have led to a wide vari-ety of modifications on the rig.

Additional equipment“Drilling this well is full of challenges. We are very proud that we have man-aged to tailor an existing drilling rig to suit a job involving so many highly complex specifications,” says Nikolaj Golovinskij, Senior Mechanical Engi-neer and Solaris Project Manager.

It is even more remarkable that Maersk Drilling has managed to execute the modifications and equip

Mærsk Gallant with additional equip-ment even while the rig has been in operation on another project and un-der contract with another customer.

“This is a perfect example of efficient and successful coopera-tion between Operations, Techni-cal Organisation and Commercial. Handling and installing a lot of heavy equipment while the rig was operat-ing for another customer is something that could only be done with extreme goodwill from all parties,” says Jacob Andersen Hansen, Head of Mechani-cal & Process.

A great challengePreparation for the Solaris project had begun already in 2014, when the rig was operating for Statoil. This

Under pressure in the North SeaMærsk Gallant has taken on a demanding task in the North Sea involving an underground well pressure that is expected to reach 16,600 psi. With its Solaris project, Maersk Drilling is once again moving the boundaries in offshore drilling.

By Nicolai Ostergaard

Employees from key departments have collaborated on exercising technical problem solving, operational excellence and deep customer acumen

The weight of the whole BOP stack (used to ensure pressure control of the well) is around 140 tonnes.


was quite a challenge, and of course the customer was worried that this preparation work would interfere with daily operations.

There were several challenges dur-ing the process:

One of the most obvious changes needed with a high-pressure drilling project is – of course – the BOP. The weight of the whole BOP stack is around 140 tonnes.

“A BOP for such a project naturally has to meet a much more demanding set of specifications than a BOP that is used for normal operations,” says Jacob Andersen Hansen.

“This has taken a lot of prepara-tion, and we have spent many hours with the customer in order to arrive at the most cost-efficient solution.

The Solaris Project

Total E&P Norge has been approved to drill a high-pressure, high-temperature well on its Solaris project. Location: Norwegian North Sea sector. The project is a 6200-metre-long exploration well with a maximum wellhead pressure that is expected to reach 16,600 psi, with anticipated temperatures as high as 210 degrees Celsius.

Current project status

The Solaris project has finished one third of the job. Right now the project is moving closer to the 8½” section, where the drilling pressure could exceed 15,000 psi – a technical limit for existing equipment. The project will reach its climax during the late sum-mer, where the customer expects to drill the pre-dicted reservoir and discover whether the enormous predicted pressure of 16,600 psi is a reality.

No-one has ever previously managed to upgrade a rig like Mærsk Gallant with so much new equipment. So we were definitely in uncharted waters,” says Nikolaj Golovinskij, prior to concluding:

“This is a good example of the mer-its of Maersk Drilling. In this project employees from key departments have collaborated on exercising technical problem solving, operational excel-lence and deep customer acumen.”


The fourth and last jack-up rig in the XLE series differs quite significantly from its three predecessors.

One of the most significant modifications is the addition of 30 accommodation cabins, bringing the total number to 180 accommodation cabins.

With so many extra cabins, certain structural challenges arises because of the increased total weight of 34,600 tonnes.

The weight added by the addi-

tional cabins has had several material impacts on the design and overall appearance of the rig.

More challenging“These impacts have proved to be more challenging than first an-ticipated,” says the head of the XLE programme, Peder Norborg.

One of the more significant chang-es has affected the three legs, each of which are 206.8 m (678 ft) tall.

“The legs have been heavily rein-forced to enable them to cope with the extra weight,” Peder Norborg says.

Furthermore, to cope with the extra weight, additional preload tanks have been included forward to provide additional buoyancy to the rig when it is going to be towed from the coast of Norway to the Valhall oil field in the Norwegian North Sea sector.

The extra accommodation cabins mean that the XLE-4 will be the

biggest jack-up rig ever constructed. Its three predecessors are already operating in the North Sea. Even though they differ in certain areas, the drilling package on all four XLE-rigs is roughly the same.

An industry firstGenerators installed aboard drilling rigs usually supply a drilling rig with all the power they require, which tends to make for a very noisy set-up.

That is about to change with the XLE-4.

The four main generators will still be on board the jack-up. However, they will remain completely silent, be-cause power lines running across the seabed directly from the Norwegian coast, which are already supplying the Valhall field will also supply the entire rig with all the power it needs. According to Peder Norborg, this is an industry first.

By Kasper Ortvald Larsen

BIGGESTJACK-UPRIG EVER

WHAT IS IT?

With a weight of 34,600 tonnes, the biggest jack-up rig ever constructed is taking shape in South Korea. But with size comes complexity, the experts found out.

Facts about the XLE-4

Accommodation: 180 crew in single-person cabinsLength of legs: 206.8 m (678 ft)Weight: Approximately 34,600 tonnesRated water depth: 150 m (492 ft)Rated drilling depth: 12,000 m (40,000 ft)Total investment: Approximately 650 m USDAnticipated delivery: Late 2016


“It is the first time that a rig will perform entirely without generators. The four generators will be idle, mak-ing the rig incredibly silent as far as the crew is concerned. Only the noise from the mud pumps and drill floor will be audible,” says Peder Norborg.

Lessons learnedGiven the switch of shipyard to DSME

in Korea, the many changes to the original design, and the numerouschallenges that have had to be over-come during the build, Peder Norberg is pleased overall.

“We have worked really well to-gether across the different teams and departments in Technical Organisa-tion and Operations, and we have managed to improve the original de-

The XLE series

Maersk IntrepidDELIVERY YEAR: 2014WORK AREA: The Norwegian sector of the North SeaCUSTOMER: Total

Maersk InterceptorDELIVERY YEAR: 2014WORK AREA: The Norwegian sector of the North SeaCUSTOMER: Det Norske

Maersk Integrator DELIVERY YEAR: 2015WORK AREA: The Norwegian sector of the North SeaCUSTOMER: Statoil

sign by applying all the lessons learned from the previous XLE builds. I am sure this will become apparent when the rig goes operational,” he concludes.

The XLE-4 is being built in accordance with a five-year contract with BP.

Peter Norborg expects the world’s biggest and most advanced jack-up rig to be delivered from the shipyard during 2016.


Times are busy aboard the drillship Maersk Viking, where at the time of writing, the crew is engaged in a large so-called flowback operation for its customer ExxonMobil.

The flowback operation serves two purposes. One is to determine how much the well is able to produce, thereby influencing any decision regarding the drilling of more wells in the same field.

The second purpose is to make sure the well is clean enough to start exporting its oil via the 18 nautical mile-long pipeline leading to Chev-ron’s Jack St. Malo platform. This

platform will be the host facility that receives oil produced from the Julia field. Maersk Oil also has a share in the Jack St. Malo field.

The planning of the flowback op-eration had already started during the building phase of the Maersk Viking.

ExxonMobil completed several studies on board during this phase in South Korea, but preparations really gathered momentum in the summer of 2015.

Burner boomA large well test spread had to be placed on board in the extended well

test area, and a burner boom had to be put on the stern of the Viking. In addition, a complete IWOCS (interven-tion workover control system), includ-ing two large umbilical reels, was installed forward of the moon pool.

Since the flaring of oil is not al-lowed in the US Gulf of Mexico, the oil has to be separated from the gas condensate. The gas will be flared off in the burner boom, and the oil will be flowed back to another vessel or barge.

Large tankerA barge has typically been used in

Rendez-vous at seaMaersk Viking and oil tanker Eagle Louisiana had a close encounter in The Gulf of Mexico when they collaborated on the demanding task of flowing oil from a drillship to an oil tanker.

By Michael McLean, Rig Leader, Maersk Viking

A flowback operation verifies how much oil a certain well is able to produce. In this case the oil from the Julia field flowed for four days to oil tanker M/T Eagle Louisiana.

FROM THE GULF OF MEXICO


The planning of the flowback operation had already started during the building phase of the Viking.

this region. But once the flowback operation looked more likely to take place in the early spring, Exx-onMobil started to look into the possibility of us-ing a DP2 shuttle tanker.

This is because the shuttle tanker option would give us a larger operational weather win-dow for this operation. After looking at various possibilities, the decision was made to select AET Tankers’ M/T Eagle Louisiana.

This tanker has a capacity of 700,000 barrels. It normally operates in the Gulf region, as it is one of two tankers designed to do capping stack intervention work for Marine Well Containment Company (MWCC).

With assistance from the Dino Chouest, the export hose was passed to the Eagle Louisiana. After a full day of hose handling and pressure testing

of the export hose, the well was finally opened up for flow-back and testing.

Let the flow beginAfter a long planning phase involving the participation of Exx-onMobil, Maersk Drill-ing, Delmar, Expro,

Logan, Edison Chouest Marine and many more, we were finally ready on Monday, 14 March. The well was opened up, and the flowback opera-tion began at 16:20 hours.

During flowback operations, the Eagle Louisiana sits 190 metres to the starboard stern of Maersk Viking. This gives the Eagle Louisiana the ability to weathervane and keep its bow point-ing into the wind. Maersk Viking will maintain the same orientation during the flowback operation that it has when it is locked into the well.

The well was flowed for only four of the potential 14 planned days. This

was because the rate of flow exceed-ed what the field had been expected to produce. In addition, the BS&W (bottom hole sand and water) cleaned up much sooner than calculated, both of which are excellent indicators of great oil production capabilities from the field.

FACTS:

Maersk Viking was constructed in 2013, and is capable of drilling in water depths up to 12,000 feet. The drillship is on contract with the oil major ExxonMobil until June 2017. The Julia Field is located in the Gulf of Mexico, 200 miles south of New Orleans, Louisiana, US. The offshore field is owned 50% by Statoil and 50% by the operator, ExxonMobil. The first phase of the field’s development was sanctioned in May 2013.

During the flowback opera-tion the Eagle Louisiana sits 190 metres to the starboard stern of Maersk Viking.


With the Yard Stay Go-Away project, one of the most crucial and tricky areas to be tackled is the one revolving around the drilling equipment. How do you conduct maintenance on equipment that is spinning

almost 24/7? According to Simon

Gadgaard, who is Team Lead Drilling in the Tech-nical Organisation, the key to dealing with this challenge is teamwork and serious planning.

“If we are to succeed in shifting the entire process of inspecting and main-taining drilling equipment from a yard stay to being an aspect of daily opera-

tions, there is not much wiggle room. We need strong cooperation across depart-ments to identify windows of opportunity,” says Simon Gadgaard.

Major challengeIt is constantly moving and it is literally at the cutting edge of rig operations, it is maximally exposed to the elements, and it is difficult to access.

“The equipment has been exposed to an aggressive environment during this past decade, involving drilling programmes from customers who expect us to drill wells that are deeper, deviated and close to the technical limits,” says Eddie Sarkis, Techni-cal Superintendent at Operations in Maersk Drilling. He continues:

“The planned procedures specified in the Go-Away project have the sensible aim of reducing the cost of maintaining equipment

while it is operationally active, through the use of condition-based maintenance and the enhanced recording of failures and repairs.”

The experience from previous yard stays tells that overhauling drilling equip-ment on site is both costly and time-con-suming. Not only that, but it can be a chal-lenge to restore equipment to top condition without having a well-equipped workshop available. Therefore one of the cornerstones of the project will be to heavily invest in exchange equipment.

“We need to minimise our footprint on the rig, and we will do that by swapping out old equipment with new whenever pos-sible,” Gadgaard adds.

Partnering upThe crew on board the different units will play a key role in executing the new ap-proach, and its success largely depends on utilising their front-line knowledge.

However, building partnerships with key vendors is equally important. Mae-rsk Drilling’s ways of working and safety standards need to be fully embedded into the vendor’s own culture, and this can only be achieved by building long-term strategic relationships.

“The reality is that maintenance work will not ‘Go Away’. The wear and tear on equipment will not decrease as we push for even more complex wells. With that in mind, our success will to a large extent come down to our ability to plan and execute those essential jobs during the operational windows we have available, as a single team,” Gadgaard concludes.

Serious planning up ahead!

By Camilla Ugilt

Teamwork, partnership and perfect timing are the relevant keywords for the future mainte-nance strategy that covers drilling equipment in Maersk Drilling’s deep water fleet.

Go-Away Project

It is no secret that maintenance – and yard stays in particular – are some of the costliest aspects of Maersk Drilling’s offshore op-erations. In order to limit the impact that yard stays and extensive maintenance tasks have on daily operations, the Go-Away Project was initiated with the goal of achieving a cash-flow saving of at least 25% and reducing the impact from yard stays in 2019.

CAUTION


It is not often that viewers get the chance to catch a glimpse of life offshore, but through collaboration with the Discovery Channel, Maersk Drilling has invited the world to come on board for a closer look at a complex industry.

Over the past two years, the Maersk Group, Maersk Drilling and Discovery Chan-nel have collaborated on several different oc-casions, producing episodes for the hit series Mighty Ships, which is broadcast around the world, as well as a brand new series called Ocean Masters, which will air in late 2016.

Ocean Masters will be a documentary-style series of six 60-minute shows that fol-lows Maersk’s experts and subcontractors as they design and build the company’s next generation of ships and drilling rigs. Viewers will follow the building process of Maersk Drilling’s XLE-4, while Maersk Tankers and Maersk Supply Service also have their new-builds featured in the series.

Professional employeesThe series will highlight how Maersk Drilling can create value, develop its employees and maintain its focus on safety while also pro-viding some insights into the opportunities available within the Maersk Group.

“I believe it is important for us to show the world what we do, and to present it in a manner that gives a realistic picture of life offshore. We want to show people the en-

vironment we operate in and the dedicated and professional employees we have around the world, as well as the drive for innova-tion that exists within the company,” says Frederik Smidth, Maersk Drilling’s Chief Technical Officer.

Discovery Communications is the world’s No. 1 pay-TV programme maker whose global television brands include the Discov-ery Channel, TLC and Discovery Science.

“Ocean Masters showcases mechanical feats unlike anything our viewers have seen before, transporting them into some of the deepest, toughest waters of today’s world,” said Elizabeth McIntyre, Vice President for Production and Development, Factual, at Discovery Networks.

Miles from the wild westBy working with international media outlets such as the Discovery Channel, Maersk Drilling aims to provide a unique look into a tech-heavy industry where the safety of the crews and the environment are supremely important.

“To some extent, I still think that offshore drilling is considered as a kind of maritime wild west, where greasy cowboys manually operate heavy equipment and put their own safety at risk. However, the reality is much different,” says Smidth, and continues:

“We operate in a complex industry, with heavy machinery – that much we cannot deny. However, the level of automation on new drilling units is tremendously high, and specialised professionals with a variety of backgrounds are working around the clock to support an efficient and safe operation. By letting the cameras on board our units, we are able to show off both the technology at work and the amazing people who ensure that we are able to deliver on our promises to our customers,” concludes Smidth.

In the limelightBy Camilla Ugilt

Popular Discovery series like Mighty Ships and Ocean Masters have recently zoomed in on the technological achievements aboard the rigs belonging to Maersk Drilling.

A camera crew is following several newbuild projects within Maersk Drilling, Maersk Tankers and Maersk Supply Service.


Oil prices recently set new 2016 highs and Brent Crude is currently trading around $50 per barrel, up from a market low of $27 set in late January.

So what is driving the upturn? The on-going recovery is due to a number of factors, including more optimistic estimates around strengthening global

oil demand growth, gradually declining U.S. oil production levels, and unexpected oil supply disruptions in Canada, Venezuela, and Nigeria.

These market developments have proven significant enough that rebalancing global oil supply and demand could occur sometime during the second half of 2016. Stronger economic data from China, a weaker U.S. dollar, and specu-lation around a possible OPEC production freeze have also helped reinforce the upward trend in prices.

Oil price downturn still worst in 30 years

By Timothy Shoup, Senior Economist

The current downturn in global oil markets is still deeper and longer than any other crash back to 1986

The six major oil price downturns since 1980s

Trading days

120

100

80

60

40

20

0100 200 300 400 500 600 700 800

Thomson Reuters Datastream, Maersk Drilling

Oil price during three years after peak (index: peak = 100)

1985/862000/011992/94

2008 2014 - current1996/98

Worst downturn in 30 yearsHowever, the recent oil price rebound should also be evaluated in the historical context of previous downturns. Despite a long history of booms and busts, the current downturn in global oil markets is still deeper and longer than any other crash back to 1986.

In addition, there are a variety of uncertainties that could further exacerbate the current downturn. Iran is increasing oil production rapidly, and exports surpassed 500,000 barrels per day in April 2016, the highest level since sanctions were removed. Saudi Arabia is also ramp-ing up oil production to record levels in a quest to compete for global market share. And China continues to have structural issues due to slowing infrastructure invest-ment as the economy transitions to focus more on the services and technology sectors.

Higher prices could delay rebalancingPossibly the biggest danger is that the current oil price recovery will actually delay or even worsen the market rebalancing. At $50 per barrel, oil prices are approaching levels where U.S. shale producers may restart drilling activity, well completion activity (i.e. the “fracklog”) and other projects that have been shut down, all in an attempt to increase oil production.

Higher oil prices may also allow financially-strapped companies to generate increased cash flow, raise ad-ditional financing, and avoid bankruptcy proceedings. All such developments delay the much-needed discipline required to rebalance global oil markets.

The high level of uncertainty in this very challenging market environment stresses the need for continued vigilance in adapting all aspects of the Maersk Drilling business model with focus on recalibrating to the new oil reality, including lowering cost levels while maintaining high operational and safety performance, and re-thinking how we do business at all levels.

BRENT CRUDE UP 85% SINCE JANUARY LOWS


MARKET INSIDE · Q1 2016

ity and lower dayrates in the market during the first quarter.

Maersk Drilling received two contract terminations in the first quarter of 2016. The contract for the harsh environment jack-up Mærsk Gallant was cancelled, but concurrently Maersk Drilling signed a new contract in direct continuation of the cancelled contract.

Furthermore, Maersk Drilling received a notice of early contract termination for the ultra-deepwater semi-submersible Mærsk Deliverer. The cancellation is expected to be neutral for the full year financials. Maersk Drilling had four rigs, who were idle or partly idle in the first quarter.

STELLAR PERFORMANCE SOLID CONTRACT COVERAGE

INCREASING REVENUE

Financial performance, USDm

Operational uptime

Revenue

2016 RoY 2017 2018

NOPAT ROIC

ROIC ABOVE Q1 2015

Financial performance, percentage annualised

Contract backlog, percentage

Good operational performance in adverse marketMaersk Drilling delivered a profit of USD 222m (USD 168m) in the first quarter of 2016.

The result is positively impacted by a continued good performance with an average uptime of 97% and savings on operating costs partly offset by more idle days. Furthermore, the result is positively impacted by USD 60m due to the early termination of the Mærsk Deliverer contract.

The underlying profit was USD 223m (USD 195m) generating a ROIC of 11.2% (8.5%).

However, adverse market conditions remain dominant, and despite good operational performance, Maersk Drilling was also affected by the lack of activ-

RECALIBRATING TO THE NEW OIL REALITY

700

600

500

400

300

200

100

0

100%

98%

96%

94%

92%

90%

12%

10%

8%

6%

4%

2%

0%

100%

80%

60%

40%

20%

0%

630

2011

96%

2012

93%

2013

97%

2014

97%

2015

97%

Q1 2016

97% 72%

54%

43%

168

8.5%

654

222

11.2%

n Q1 2015

n Q1 2016

n Impact of Deliverer termination fee


FIRST-QUARTER RESULTS, 2016

The ERP system has been a huge investment, but is also a driver for masive savings within especially procurement and inventory manage-ment.

ERP (Enterprise Resource Planning, a business management software for storing, managing and interpreting data) will facilitate new and smarter ways of working by compiling processes and functionali-ties that are today being handled by several systems and integrate them into one single solution. The solution will support a stronger collaboration between departments by creating information flow throughout the business and it will be an important tool to support Maersk Drilling’s 2020 Strategy.

When the business case was done several years back, Maersk Drilling expected to bring down costs globally with around USD 13.5 million a year.

“This target remains, but much has happened since then and we are now operating in a very different market where lowering our costs is a must for competing in the market. With this, benefit realisation has become more important than ever”, says Christian Saugman, Head of Business Partner-ing, who is driving the cross-function-al ERP benefit realisation initiative.

Key areasAccording to scientific studies, a lot of ERP projects are only harvesting between 10% and 25% of the benefits expected. Some projects are not harvesting any benefits at all. But sta-tistics also shows that projects with a structured focus can be expected to realise more than 80% of the benefits identified.

“We are determined to end up in the 80% plus category. But it does not come by itself”, Christian Saugman states. “For ERP to become a success it is important to understand that we can no longer work in silos – our business is connected and what we do in each area has a consequence for others.”

From a benefit point of view, he has identified three important areas where Maersk Drilling needs to be on top for the ERP programme to enable the expected benefits:• Data: To ensure that the right data are in place at the right place in the right quality. • Processes: To ensure that the required processes are described and implemented. • People: To ensure that employees actually embrace the new way of working enabled by ERP.

ERP enables Procurement to get a better overview of what Maersk Drill-

ing is actually buying cross the organ-isation, what the company already has in stock and what the company can do to reduce the cost and hereby optimise the procurement.

“From an inventory and mainte-nance perspective we are focusing on getting our external cost related to maintenance documented for us to better manage and reduce the cost of both our inventory and planned main-tenance,” says Christian Saugman.

To drive this offshore, all rigs will this year have a PDSA (plan – do – study – act) project focusing on how to improve the administrative processes offshore to get an eased workday, with less different systems to handle administrative tasks and search for the necessary data. Chal-lenges differs from rig to rig and PDSA projects will naturally differ.

Next phaseChristian Saugman is confident that 2016 is the year where the employees will start to work smart with ERP.

“What it comes down to, is that we need to change the way we work, both on- and offshore to realise the full potential of ERP,” Christian Saug-man concludes.

The first months of 2016 has been focused on getting aligned, estab-lishing a cross-functional benefit team, setting the right KPI’s and now Christian Saugman’s team has gone into the next phase where it starts to track progress and starts to focus on further benefit potentials.

“It’s not an easy journey but with the focus across the organisation and the dedication of both the benefit team and the employees, ERP benefits will be realised”. Christian Saugman rounds off.

Working smart with ERPThe single largest system investment in the history of Maersk Drilling is entering into the final roll-out phase. But how to ensure that the promised savings from the ERP system are realised?

“What it comes down to, is that we need to change the way we work, both on- and offshore to realise the full potential of ERP,” says Christian Saugman.

By Nicolai Ostergaard


THE ERP SYSTEM

Anniversaries40 years anniversary01.08.2016 Erik Schou, Game Change

25 years anniversary01.01.2016 Kim Noe, Maersk Voyager01.01.2016 Torben Olsson, Mærsk Deliverer01.01.2016 Frank Brun, Maersk Inspirerer01.01.2016 Lilian Bak, Maersk Integrator03.01.2016 Kjartan Davidsen, Maersk Interceptor05.01.2016 Christian Schmidt, Arctic Project13.01.2016 Oystein Christensen, Maersk Interceptor16.01.2016 Peter Hansen, Completer Marine Department16.01.2016 David Hanson, Reacher Administration21.01.2016 Henrik Lerche, Maersk Intrepid 06.02.2016 Bjarne Eis, Maersk Inspirerer06.02.2016 Hilmar Øverland, Maersk Gallant20.02.2016 Mogens Jørgensen, Giant Marine Department26.02.2016 Jens Burmeister, Maersk Intrepid26.02.2016 Lars Reber, Maersk Interceptor26.02.2016 Sten Schou, Maersk Gallant01.03.2016 Eddie Nees, Maersk Integrator04.03.2016 Niels-Jørn Jensen, Maersk Gallant

05.03.2016 Flemming Olgaard Nielsen, Maersk Intrepid06.03.2016 Lars Hoggen, Mærsk Innovator12.03.2016 Kim Gottschalck Larsen, Maersk Resolve18.03.2016 Henrik Eiersted, Maersk Intrepid18.03.2016 Bjarne Hojbjerg, Maersk Gallant17.04.2016 Per Winther, Maersk Integrator17.04.2016 Torben Møllegård, Maersk Resolute17.04.2016 Jørn Lausten Jørgensen, Sneferu07.05.2016 Andre Abrahamsen, Reacher Administration13.05.2016 Klaus Otto Kragh, Harsh Environment Waiting Pool15.05.2016 Simon Andersen, Maersk Voyager26.05.2016 Lars Hvilsom, HEJU Technical Support12.06.2016 Sigve Skeie, Mærsk Innovator01.07.2016 Hugo Nordstrand, Gallant Maintenance Department02.07.2016 Jens Bach Pedersen, Reacher Marine Department01.08.2016 Jakob Korsgaard, Management Stavanger01.08.2016 Peter Buch Jensen, Maersk Resolute

Have you ever won-dered who is sitting at the other end of the line when you call the IFS Support Team? Meet Lahiru Basnayake, an expe-rienced IFS Support

Consultant who joined the Manila Support Team when they opened for business in 2014. Lahiru holds a degree as a Chemi-cal Process Engineer and has eight years of

IFS experience from IFS in Sri Lanka – the main IFS R&D centre. Their broad experi-ence and networking among key business stakeholders is a big advantage, as the team is solving issues in collaboration with many different parties.

The support center in Manila was established in April 2014 to provide efficient, service-minded support for the company’s most critical business appli-cation – IFS. The team currently consists of 23 experienced IFS support employees.

Offshore Promotion ListMærsk Developer.29 Feb.: Andrew Boucher, Maintenance Engineer on Maersk Valiant 29. From Assistant Subsea Engineer on Mærsk Developer.

25 years in rough seasPer Winther began in Maersk Drilling as an Assistant Barge Engineer on Mærsk Endeavour. In 1999 he was promoted to OIM (Offshore Installation Manager), and he has spent most of his career on the North Sea rigs. He has served on Mærsk Giant, Maersk Explorer, Maersk Venturer and Maersk Valiant. Per Winther has worked both onshore and offshore. He was involved in the team that in 2010/2011 conducted the exten-sive rebuilding of Maersk Reacher to meet the specifications defined by the Norwegian authorities. Shortly afterwards, he started work as an OIM on Maersk Reacher. Since 2014 he has participated in the rig intake of Maersk Integrator.

Yet Per has a much longer work his-tory with the Maersk Group. In 1980 he em-barked on his nautical training with what he describes as a very modest monthly salary from the ship-owner A.P. Møller. He served as second officer and first officer with Maersk Line.

Per grew up in the Danish countryside, where he attended high school in Hobro and had been plan-ning to attend univer-sity. But at the last minute he decided to pursue his old dream of going to sea, where he has spent most of his working life ever since.

This is the Manila Support Team, how can I help you?

PERSONAL

n Rig Manager Henrik Hundebol, and his team on Mærsk Innovator, has received IACD’s Chair-man’s Award, which recognises individual rigs and crews that have had the best safety performance over the past year. Mærsk Innovator has had an injury free

operation in 2015. Furthermore the rig had only one dropped object during the year, with no potential for a reportable injury.

“We should use this award as our benchmark to what good looks like and promise ourselves that this is the level of HSE performance

we commit to deliver going forward,” says a pleased Henrik Hun-debol.


Published by:Maersk Drilling · Esplanaden 50 · DK-1098 CopenhagenTel: +45 63 36 00 00 · Fax: +45 63 36 31 82Mail: [email protected] 30, No. 2 · June 2016

Editor: Nicolai Østergaard. Tel./Fax: +45 23 27 87 55. Mail: [email protected] next issue: 30. august 2016Design & production: Datagraf CommunicationsCopies: 5,000

Between 1986 and 1991, most drilling contractors were fighting for their lives in a severe industry downturn.

But thanks to some bold decisions, Maersk Drilling was one contractor that emerged from the crisis even stronger than it was before.

I came to Maersk Drilling in 1992, right in time to see that the company had gained an advantage during the crisis.

I think we have the same chance today. In this period, Maersk Drilling identified a window

of opportunity to create a new business adventure: The Norwegian market was dominated by floaters. A jack-up market was non-existent.

This provided an opportunity for us. Jack-up rig Maersk Gallant was built specifically for

the entry into the Norwegian market. Other rigs that were used in Maersk Drillings’ commercial campaign in Norway

in the beginning of the nineties were Maersk Jutlander, Maersk Giant and Maersk Guardian.

With our technical capabilities in hand we had taken advantage of the crisis to venture into a new market seg-ment – the Norwegian offshore jack-up sector. With our innovative jack-up rigs we made it less costly to operate offshore Norway.

By moving into Norway, Maersk Drilling had to embrace the specific requirements being present in this sector of the North Sea. This included the development of technology for mechanical handling of tubulars.

We entered the Norwegian market wholeheartedly and over the years we proved our determination to stay and expand.

When this crisis ends, we might also find ourselves as a much transformed – but even stronger – company. Right now, we can seek comfort in the fact that this company has a proud history of being able to find the commercial possibilities in even the worst downturn.

In my point of view, the most important lessons from the previous crisis are the following:

1: You must study the market closely, draw your own conclusions and act accordingly.

2: You must stay close to your customers. You must know what they need, not only tomorrow, but also the day after tomorrow.

Success was not guaranteed when Maersk Drilling made the decision to venture into the Norwegian jack-up market.

These were rough times, with a tremendous oversup-ply of drilling rigs. Everyone in the industry expected the situation to remain that way into the foreseeable future

The current crisis in the industry is different in many ways. And of course we cannot copy the strategy from the eighties and nineties.

Every crisis in the drilling industry requires completely new and different answers. But I strongly believe that we once again can use our commercial skills and our deep insight into our customer’s reality to take some brave and long-term decisions.

But it is nevertheless important to remember that even in the years between 1986 and 1991 – when the mood in the industry was so bleak that no one was able to see the light at the end of the tunnel - we managed to analyse the situation and take advantage of the openings that emerged in the market. We will have to do that once again.

Never waste a crisis

COMMERCIAL PERSPECTIVE Erik Schou, Senior Commercial Advisor, joined

Maersk Drilling in 1992. Since then he has held various managerial positions in the Commercial Department. Among many other things he has been prominent in the build-up of Maersk Drilling’s activities in Norway.

From a

Maersk Guardian

was Maersk Drilling’s first

jack-up rig in Norway

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