Awilco Drilling PLC: Option exercised by Shell

With reference to our press release of 18 May 2018, Awilco Drilling PLC is pleased to confirm that Shell UK Limited has given notice of its intention to exercise a one well option under the WilPhoenix decommissioning contract. The contract is therefore extended to 19 firm wells with an estimated duration of 380 days and options for 7 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. Awilco Drilling also has one new build rig on order of Moss CS60 ECO MW design equipped for drilling in harsh environments, and independent options for additional three rigs of the same design.

Aberdeen, 30 May 2018

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.