AWDR - Letter of Intent signed with Hess

Awilco Drilling PLC has signed a Letter of Intent (LOI) with Hess UK Ltd for the provision of WilHunter for additional work related to their 2013, 2014 and 2015 abandonment program in the Central North Sea. The current firm contract duration of 400 days is to be extended by an additional 550 days to 950 days in total plus options for up to 275 days. The additional firm period increases the contract value by approximately USD 212 million. The contract is expected to commence in April 2013.

WilHunter is one of Awilco Drilling's two Enhanced Pacesetter semi-submersibles and is equipped for drilling in water depths up to 1,500.

Aberdeen, 5 February 2013

 

For further information please contact:

Jon Oliver Bryce, CEO

Phone: +44 1224 737900


Cathrine Haavind, IR Manager

Phone: +47 93 42 84 64

 

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.