Awilco awarded additional option at Yantai Raffles

Awilco Offshore ASA has won an option to build a possible fifth semisubmersible drilling rig at Yantai Raffles shipyard.

Offshore staff

OSLO, Norway -- Awilco Offshore ASA has won an option to build a possible fifth semisubmersible drilling rig at Yantai Raffles shipyard. The option can be exercised until the end of December and will have a building period of 33 months from the time the option is exercised.

AWO was awarded the additional option as part of an agreement with the yard to reschedule the delivery of the first rig,WilPioneer.

AWO announced in 2Q that a building period of three months longer was expected.

9/11/2007

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