Awilco Offshore exercises jackup option

Awilco Offshore ASA has exercised an option with SembCorp Marine's PPL yard in Singapore to build a jackup. The new rig, WilConfidence

Offshore staff

OSLO, Norway -- Awilco Offshore ASA has exercised an option with SembCorp Marine's PPL yard in Singapore to build a jackup. The new rig, WilConfidence, will have 114 m (375 ft) working depth capability and will be able to drill to 9,144 m (30,000 ft) subsea.

The jackup is to be delivered in 2Q 2009 at a cost of $149 million. The cost includes contract price with the yard, site supervision, pipe handling equipment, spare parts, and finance costs during construction.

Awilco Offshore has one remaining option for the construction of a semisubmersible drilling rig at Yantai Raffles Shipyard in China.

3/1/2007

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