MHWIRTH TO DELIVER DRILLING EQUIPMENT PACKAGE FOR AWILCO NEWBUILD

April 15, 2019

MHWirth, a company owned by Akastor ASA, signed a contract with Keppel FELS for delivery of one drilling equipment package for a new mid water semisubmersible drilling rig. This is the first out of three options that were given when Keppel FELS and MHWirth signed a contract in April 2018 for a similar drilling equipment package. Reference is made to stock exchange release dated 5 April 2018.
The rig will be built for Awilco Drilling PLC by Keppel FELS Limited in Singapore. Delivery is planned for Q1 2022.
The contract value for the drilling equipment package, including a mid-water riser package, is approximately USD 100 million. This will be included in the order intake in Q2 2019.
Mhwirth AS supplies drilling equipment and facilities for the offshore industry that includes components, drilling modules, and rig packages. The company was founded in 1987 and is based in Kristiansand, Norway with subsidiaries in the United States, Singapore, India, Canada, Brazil, Venezuela, Azerbaijan, and United Arab Emirates. Mhwirth AS operates as a subsidiary of Akastor ASA.
Akastor is a Norway-based oil-services investment company with a portfolio of industrial holdings and other investments. The company has a flexible mandate for active ownership and long-term value creation.
(Source and image: MHWirth)