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Denmark-based Maersk Drilling has entered an agreement with UK-based global oil and gas company BP to charter an ultra deepwater semi-submersible rig for $780m.

The Maersk Discoverer rig will be deployed offshore Egypt over a contract period of four years, which can be extended by another 12 months.

BP’s contract will start in the second quarter of 2012.

The Maersk Discoverer, the second in a series of three ultra-deepwater units in Maersk’s fleet, has been deployed offshore Australia since its delivery in 2009.

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By GlobalData