AWILCO DRILLING TO ORDER UP TO FOUR NEW SEMI-SUBMERSIBLES

March 01, 2018

Keppel Corporation announced that Keppel Offshore & Marine has, through its wholly-owned subsidiary, Keppel FELS Limited, signed a letter of intent with Awilco Drilling in relation to the proposed construction of a semisubmersible drilling rig for harsh environment use, with the option to build up to a further three units. The details and terms of an agreement relating to such transaction have not yet been finalized and are still subject to ongoing negotiations and discussions between the parties. The Company will make the relevant announcement when the definitive agreement has been finalized and entered into.
Awilco Drilling Limited was incorporated in December 2009 in connection with the acquisition of the two semi submersible drilling rigs, WilPhoenix (previously Arctic II) and WilHunter (previously Arctic IV). The company is registered in England & Wales (07114196) with its operation based in Aberdeen, Scotland. The Company re-registered to a public company on 14 April 2011, under the name Awilco Drilling PLC.
It is perhaps the most surprising news of the year and it is good news. Awilco Drilling is the smallest publicly held driller with only two rigs the WilHunter built in 1983 and the WilPhoneix built in 1982. They are shallow water rigs with a maximum service depth of 1500 ft. and were upgraded to North Sea standards in 2011. Currently only the WilPhoenix is under contract while the WilHunter is warm stacked in UK. (Source: Keppel Offshore and Marine – Image: Aspire)