Awilco exercises option for fourth jackup rig with PPL

Offshore staff

SINGAPORE -- Norway's Awilco Offshore ASA has exercised and option and signed a contract with PPL Shipyard of Singapore to build a $149-million jackup rig. The new jackup will be build to the proprietary Baker Marine Pacific Class 375 deep drilling design.

PPL plans to begin work on the rig in 2Q 2007. Delivery is expected by 2Q 2009.

This jackup rig is the last of the four options that PPL Shipyard had granted to Awilco in 2005.

The rig will be equipped with a drilling package to drill high-pressure/high-temperature wells to a depth of 9,144 m (30,000 ft). The jackup, which has accommodations for 120, will operate in 114 m (375 ft) water depth.

PPL says this is the 18th order for its BMC 375 Pacific Class design, which was launched in 2004.

4/3/2007