Keppel secures repeat order from Awilco for mid-water harsh environment rig worth about US$425million
Keppel Offshore & Marine Ltd (Keppel O&M), through its wholly-owned subsidiary, Keppel FELS Limited (Keppel FELS) has secured an order with Awilco Drilling PLC (Awilco) for the construction of a repeat mid-water semisubmersible (semi) drilling rig for harsh environment use, worth about US$425 million, the company said in its release.
This follows the exercise of an option by Awilco pursuant to the earlier contract entered into between Keppel FELS and Awilco for a similar rig.
As part of that transaction, Awilco has independent options to order up to another two similar rigs to be exercised in 2020 and 2021 respectively.
The terms of this repeat order are subject to the finalisation and entry into definitive agreements between the parties within 15 days of the exercise of the option.
The rig will be built to Moss Maritime's CS60 ECO MW design and is scheduled for completion in 1Q 2022. Similar to the first rig, it is specially designed, configured and outfitted for mid-water operations in water depths up to 1,500m and able to work in the harshest environments of North West Europe, including the Barents Sea.
When completed, the drilling rig will have a low environmental footprint and be able to operate in harsh environments, including the Norwegian Continental Shelf, the UK Continental shelf and the Barents Sea. Equipped with a hydraulic hoisting system capable of two million pounds of lifting capacity, it also features an optimised 12 point thruster assisted mooring system for vessel station keeping, complete with hybrid power supply and energy saving features.
Keppel O&M has a strong track record of having delivered 25 semisubmersible rigs since 2000.
About Awilco Drilling
Awilco Drilling PLC is a North Sea Drilling Contractor owning and operating two refurbished and enhanced UK compliant 3rd generation mid-water semi-submersible drilling rigs. In March 2018, the Company ordered one new build rig of Moss CS60 ECO MW design equipped for drilling in harsh environments, including the Barents Sea. The Company is listed at the Oslo Stock Exchange under the ticker code AWDR. Awilco Drilling PLC is registered in England & Wales (07114196).
About Keppel FELS / Keppel Offshore & Marine
Keppel FELS is a subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), a wholly-owned company of Keppel Corporation Limited. Keppel FELS is a leading designer, builder and repairer of high-performance mobile offshore rigs. Its portfolio of proprietary designs and floating production solutions meets a broad spectrum of operating requirements, including deep waters and harsh environments.
Keppel O&M is a global leader in offshore rig design, construction and repair, ship repair and conversion, and specialised shipbuilding. It integrates and harnesses the experience and expertise of yards and offices in 15 countries to be near customers and markets. Driven by innovation and a capable people with the Can Do! spirit, Keppel O&M strives to become a builder of distinction in every aspect of its business.
