Premier Oil UK Limited has exercised its option to extend the term of its drilling contract with Awilco Drilling PLC for the WilPhoenix rig.
This option is for a period of approximately 70 days commencing in March 2014 and has an estimated additional contract value of USD 22 million.
WilPhoenix is one of Awilco Drilling’s two Enhanced Pacesetter semi-submersibles and is equipped for drilling in water depths up to 1,200 ft.