Awilco waiting on North Sea drilling upturn
Awilco Drilling sees mixed signals in the drilling market offshore northwest Europe.
During 3Q there was an upturn in semisubmersibles departing for scrapping, with the continued oversupply pushing day rates at close to break-even levels. However, there are prospects for higher levels of seasonal use as more fixtures are announced.
There are also possibilities indecommissioning although commencement windows are moving toward spring 2018.
During 3Q the company’s semisubWilHunterremained warm stacked in Invergordon, northern Scotland, and subsequently underwent cold stacking preparations.