Letter of Intent signed for WilPhoenix Oslo Stock Exchange:AWDR

Awilco Drilling PLC has signed a Letter of Intent with Serica Energy (UK) Limited for the provision of WilPhoenix for a one well workover on the Rhum field. The program has an estimated duration of 45 to 70 days and will commence between 1st September and 30th October 2020. The contract value is estimated at GBP 5.9 million to GBP 9.1 million (USD 7.8 million to USD 11.9 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. Awilco Drilling also has two new build rigs on order of Moss CS60 ECO MW design equipped for drilling in harsh environments, and independent options for additional two rigs of the same design.

Aberdeen, 25 February 2020

For further information please contact:
Jens Berge, CEO
Phone: +44 1224 737900

Cathrine Haavind, IR Manager
Phone: +47 9342 8464
Email: ch@awilcodrilling.com

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