ABERDEEN, UK – Awilco Drilling has notified Keppel FELS in Singapore that it has exercised a termination right under a construction contract for a newbuild semisubmersible drilling rig, Nordic Winter.
According to Awilco, this follows breaches under the vessel construction contract.
On termination, it added, its subsidiary AR1, which awarded the contract, will be entitled to a refund of instalments paid to KFELS of around $54.7 million, plus accrued interest.
The Nordic Winter is one of two Moss Maritime CS60 Eco MW design semis Awilco ordered from KFELS. In addition, Awilco Drilling subsidiaries have options for two additional rigs of the same design.