Maersk Drilling has revised its capex forecast for 2020 to around $150 million, against $150-200 million previously.
(Courtesy Maersk Drilling)
The semisubmersible drilling rig Maersk Discoverer.
Offshore staff
LYNGY, Denmark – Maersk Drilling has revised its capex forecast for 2020 to around $150 million, against $150-200 million previously.
This and other cuts take into account adjustments to the existing contracts anticipated based on current customer dialogue, and COVID-19 related costs.
To adapt to the new business environment, the company has taken precautionary measures that including stacking of certain rigs and revisions to planned maintenance programs.
Last month the company acted to adapt its offshore crew pool to the reduced offshore drilling activity, and that will likely also impact the need for onshore support.
In response, the company plans to reduce the size of its onshore organization both at headquarters in Denmark and offices globally.
These measures could lead to 150-170 onshore redundancies globally.
