Maersk Drilling announced that its latest asset, the Maersk Invincible jack-up rig, is now fully jacked up in Okpo, South Korea.
The three-legged drilling rig is at Daewoo Shipbuilding & Marine Engineering’s (DSME) shipyard, standing at an impressive 207 metres (679 feet) tall.
“Maersk Invincible will be delivered from the shipyard later in 2016,” Maersk Drilling informed.
WATCH: Maersk Drilling Rig Jacked Up in South Korea
The ultra-harsh environment jack-up drilling rig was named earlier in October in South Korea.
It is the fourth and final rig of a series of four ultra-harsh environment jack-up rigs to enter the company’s fleet.
Maersk Invincible jacked-up in South Korea
Overall, the four units represent a total investment of US$2.6 billion (£2.12 billion).
The first three rigs were delivered from the Keppel FELS shipyard, but the Maersk Invincible will be delivered from DSME in South Korea.
After the delivery, the rig will head to the North Sea, where it will start a five-year contract with BP Norge for plug and abandonment work on the Valhall field in the Norwegian North Sea.
A New Era for Maersk Drilling
“With the naming of our fourth XLE jack-up, we are nearing the end of a newbuilding era for Maersk Drilling. Maersk Invincible will be the final XLE rig to enter our fleet,” Maersk Drilling CEO Claus V. Hemmingsen, said.
These rigs are the world’s largest jack-up rigs, designed to operate all year round in the North Sea.
Maersk Drilling had announced last week it is reducing its headquarter organisation by up to 70 positions in response to the continued market decline and reduced activity level in the oil industry.
“At present, nine out of Maersk Drilling’s 23 units are lying idle, and we expect the market balance to be challenged in the coming years. As a consequence, we have had to say goodbye to more than 600 offshore employees in the last 12 months,” Maersk Drilling CEO Claus V Hemmingsen, said.