ABERDEEN, UK – Awilco Drilling subsidiary Awilco Rig 2 (AR2) has exercised its termination right concerning construction of the new semisubmersible drilling rig, Nordic Spring.
The company has notified Keppel FELS (KFELS) of its decision, citing breaches under the vessel construction contract. At the same time, AR2 has given KFELS notice of termination as a result of Force Majeure.
AR2 claims that under the contract terms it will be entitled to a refund of instalments paid to KFELS of $43 million, plus accrued interest.
The Nordic Spring is one of two Moss Maritime CS60 Eco MW design semis ordered by Awilco subsidiaries from KFELS, with both orders now terminated. Another Awilco subsidiary retains an option for a further rig of the same design.