Awilco Drilling has announced that its fully owned subsidiary Awilco Rig 2 Pte. Ltd., on March 22, signed a contract with Keppel FELS shipyard in Singapore for the building of one new CS60 ECO MW semisubmersible 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 5,000 ft (1,524 m).
The cost for the rig delivered from the yard in Singapore is approximately $425 million. Delivery is planned for late first-quarter 2022. The company also has options to build up to two further additional rigs of similar design, such options to be independent of each other.
In addition to the newbuilding contract announced above and the first CS60 ECO MW currently under construction, Awilco Drilling Plc owns and operates the two Enhanced Pacesetter semisubmersibles WilPhoenix and WilHunter, equipped for drilling in water depths up to 1,200 ft and 1,500 ft respectively.
Recommended Reading
President: Financial Debt for Mexico's Pemex Totaled $106.8B End of 2023
2024-02-21 - President Andres Manuel Lopez Obrador revealed the debt data in a chart from a presentation on Pemex at a government press conference.
NOV's AI, Edge Offerings Find Traction—Despite Crowded Field
2024-02-02 - NOV’s CEO Clay Williams is bullish on the company’s digital future, highlighting value-driven adoption of tech by customers.
TechnipFMC Eyes $30B in Subsea Orders by 2025
2024-02-23 - TechnipFMC is capitalizing on an industry shift in spending to offshore projects from land projects.
From Restructuring to Reinvention, Weatherford Upbeat on Upcycle
2024-02-11 - Weatherford CEO Girish Saligram charts course for growth as the company looks to enter the third year of what appears to be a long upcycle.
Patterson-UTI Braces for Activity ‘Pause’ After E&P Consolidations
2024-02-19 - Patterson-UTI saw net income rebound from 2022 and CEO Andy Hendricks says the company is well positioned following a wave of E&P consolidations that may slow activity.