Shell adds another well to Awilco rig contract
Oil major Shell has decided to exercise a one-well option with UK driller Awilco Drilling under the decommissioning contract for the WilPhoenix rig.
To remind, Awilco and Shell UK earlier in May signed a contract for the provision of WilPhoenix rig for a decommissioning program of 18 firm wells plus options totaling a further eight wells. The contract value for the firm term was estimated at $38.3 million.
Awilco said on Thursday that, following the exercise of option, the contract has been extended to 19 firm wells with an estimated duration of 380 days and options for seven further wells remaining.
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.
The company’s other rig, the WilHunter, has been cold stacked in Invergordon for a while now with no near-term employment prospects.
Awilco Drilling also has one new build rig on order at Keppel and independent options for additional three rigs of the same design.