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.