Offshore drilling contractor Awilco Drilling has signed a letter of intent with Serica Energy for the provision of WilPhoenix rig for a one-well workover on the Rhum field offshore the UK.
The program has an estimated duration of 45 to 70 days and will start between September 1 and October 30, 2020, Awilco said on Tuesday.
The contract value is estimated between $7.8 million to $11.9 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.
Awilco Drilling also has two new build rigs on order of Moss CS60 ECO MW design equipped for drilling in harsh environments, and independent options for additional two rigs of the same design.
In late January 2020, Awilco also signed a letter of intent with an undisclosed operator for the provision of WilPhoenix in support of a three well plug & abandonment program.
The program, with an estimated duration of 100 days, is expected to start in early May 2020.
In related news, Serica in late January halted production on its Bruce, Keith, and Rhum fields due to issues on the Bruce platform in the UK North Sea.
Also on Tuesday, Awilco posted revenues of $8.3 million for 4Q 2019, a decrease from revenues of $10.2 million in the same period of 2018. The company’s net loss deepened to $27 million from a loss of $24.2 million in 4Q 2018.