Awilco Drilling Secures $424Mln Contract for WilPhoenix Rig

Awilco Drilling PLC has signed a Letter of Intent (LOI) with Apache North Sea Limited and TAQA Bratani Limited for the provision of WilPhoenix for a 3 year firm term commitment plus up to a further 2 years of options.

The contract value for the firm term is estimated to be approximately USD 424 million. The contract is expected to start in the second half of 2014.

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.