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Maersk Drilling and Aker BP Agree to $1 Billion Drilling Pact

  • Denmark driller secures contract for upcoming five-year period
  • Grants Aker BP use of two rigs for offshore drilling in Norway
A Maersk Drilling Services A/S rig in the North Sea.

A Maersk Drilling Services A/S rig in the North Sea.

Photographer: Carina Johansen/Bloomberg

Maersk Drilling extended a drilling agreement with Aker BP ASA in a $1 billion five-year contract, securing a major revenue source.

The agreement grants Norwegian oil operator Aker BP the use of two rigs, the companies jointly announced Saturday. The two Maersk rigs -- Maersk Integrator and Maersk Invincible -- will be used for activities offshore Norway during the period.