Awilco, Keppel formalize 2nd newbuild offshore rig order as contract signed

  • Exploration & Production

UK-based offshore driller Awilco Drilling and Singapore’s rig builder Keppel have officially signed a contract for the construction by Keppel of a new semi-submersible drilling rig.

The drilling company said that, following a declaration of the option to order a second semi-submersible rig from Keppel, announced on March 9, the two companies on Friday signed a contract whereby Keppel FELS shipyard in Singapore will build one new CS60 ECO MW semi-submersible drilling rig.

The rig is designed for harsh environment use, and will be equipped and certified for drilling on the Norwegian Continental Shelf, including in the Barents Sea, in water depths up to 5000ft.

The cost of the rig delivered from the yard in Singapore is around $425 million. Delivery is planned for late Q1 2022.

This is the second newbuild rig Awilco has ordered from Keppel, with the first order placed a year ago.

Awilco currently owns two 3rd generation semi-submersible drilling rigs, the WilHunter, and the WilPhoenix, which have for years operated in the UK sector of the North Sea. With the two newbuilds, the company is now targeting the Norwegian market.

The UK-based drilling contractor also has options to build up to two further additional rigs of similar design.

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