Oslo-listed drilling company Awilco Drilling has signed a Letter of Intent with an unnamed operator for the provision of its WilPhoenix drilling rig.
Awilco said Thursday that the contract would be in support of a three well Plug & Abandonment program.
The program has an estimated duration of 100 days and will start in early May 2020. The contract value is estimated at $13.8 million.
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 rig was built in 1982 but was extensively upgraded in 2010 and 2016.
Also, Awilco Drilling also has two new-build harsh-environment rigs on order with Keppel in Singapore. Apart from the two rigs under construction, Awilco has independent options for an additional two rigs of the same design.
It is targeting the newbuilds deployment for the Norwegian market.
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