Global law firm Norton Rose Fulbright has advised Maersk Drilling, a unit of A.P. Moller-Maersk, on its acquisition of a newbuild harsh environment jack-up rig, the Maersk Highlander, from Hercules Offshore.
Under the deal Maersk Drilling assumes the right to take delivery of the rig, from Jurong Shipyard in Singapore, and settles the final payment of approx. $190 million with Jurong. Following delivery, the rig 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.
The Norton Rose Fulbright team was led by partner Eleanor Martin and included partners Jill Gauntlett, James Stonebridge, Louis Strubeck and Catrina Smith and senior counsel Ryan Manns and associates Olivia Cox and Charles Bremner.
Norton Rose Fulbright is a leading firm in shipping and oil and gas and was recently ranked, once again, as a top tier firm in the fields of Projects and energy: oil and gas and Shipping: finance by Chambers Global 2016.
Akin Gump Strauss Hauer & Feld LLP advised Hercules Offshore.
For further information please contact:
Jane Lougher, Global head of business development - Transport
Tel: +44 20 7444 2063; Mob: +447595 886 200
Notes for editors:
Norton Rose Fulbright is a global law firm. We provide the world’s preeminent corporations and financial institutions with a full business law service. We have 3800 lawyers and other legal staff based in more than 50 cities across Europe, the United States, Canada, Latin America, Asia, Australia, Africa, the Middle East and Central Asia.
Recognized for our industry focus, we are strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare.
Wherever we are, we operate in accordance with our global business principles of quality, unity and integrity. We aim to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact.
For more information about Norton Rose Fulbright, see nortonrosefulbright.com/legal-notices.