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KeppelFELS to build $425m drilling rig for Awilco Drilling

Published 12 March 2018

Awilco Drilling’s subsidiary Awilco Rig 1 has signed a contract with KeppelFELS shipyard in Singapore for the construction of a 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.

Source: Company Press Release