Maersk Drilling sees decrease in revenues from Azerbaijan

Oil&Gas Materials 24 February 2022 15:26 (UTC +04:00)
Maersk Drilling sees decrease in revenues from Azerbaijan

BAKU, Azerbaijan, Feb.24

By Leman Zeynalova – Trend:

The revenues of Denmark-based Maersk Drilling company from operations in Azerbaijan stood at $37 million as of 2021, as compared to $110 million in 2020, Trend reports with reference to the company.

As such, the company saw a 66.36 percent decrease in revenues from Azerbaijan year-on-year.

The Mærsk Explorer successfully completed its long-term contract with bp in Azerbaijan in May 2021 and was subsequently warm stacked.

“We are currently in customer dialogues for the rig and continue to pursue different opportunities, however since the rig is land locked in the Caspian Sea, options remain limited,” said the company.

Maersk Drilling is a leading offshore drilling operator, working everywhere from the North Sea to Ghana to Timor-Leste. It is increasingly providing third-party services and partnering with its customers on innovative technologies and new commercial models. Together, the company is reducing the complexity, cost, and risk of drilling campaigns to improve the competitiveness of offshore oil and gas for its customers.


Follow the author on Twitter: @Lyaman_Zeyn