Awilco Drilling PLC: Contract Signed with KeppelFELS for the Building of New Semi Submersible Drilling Rig
Monday 12 March 2018
Awilco Drilling PLC announced that its fully owned subsidiary Awilco Rig 1 Pte. Ltd. on 9 March 2018, signed a contract with KeppelFELS shipyard in Singapore for the building of one new CS60 ECO MW semisubmersible drilling rig. The rig is designed for harsh environment use, and will be equipped and certified for drilling on the Norwegian Continental Shelf, including in the Barents Sea, in water depths up to 5000ft.
The cost for the rig delivered from the yard in Singapore is approximately USD 425 million. Delivery is planned for late Q1 2021. In connection with entering into the contract for such newbuilding, the Company has also negotiated options to build up to three additional rigs of similar design, such options to be independent of each other.
In addition to the newbuilding contract announced above, Awilco Drilling PLC owns and operates the two Enhanced Pacesetter semi-submersibles WilPhoenix and WilHunter, equipped for drilling in water depths up to 1,200 ft and 1500 ft respectively.