Awilco Drilling PLC: Receipt of Notice of Termination of Construction Contract

Awilco Drilling Plc
·1-min read

Awilco Drilling PLC (the Company) announces that its wholly owned subsidiary Awilco Rig 2 Pte. Ltd. (AR2) has today received a notice from Keppel FELS purporting to terminate the Vessel Construction Contract of the semi-submersible drilling rig Nordic Spring (“Notice”). Keppel FELS has also served AR2 with a notice of arbitration.

This follows a letter from AR2 to Keppel FELS raising concerns about the status of the project. AR2 vigorously denies the allegations by Keppel FELS in the Notice and considers the vessel construction contract to be intact. The Company will provide further information in due course.

Nordic Spring is a semi-submersible drilling rig of Moss Maritime CS60 Eco MW design ordered by Awilco Drilling’s subsidiary from Keppel FELS. In addition, a separate Awilco Drilling subsidiary has an option for one further rig of the same design.

Aberdeen, 4 December 2020

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

Cathrine Haavind, Investor Relations
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.