Marine Log

April 12, 2006

Awilco orders another jack-up

Norway's Awilco Offshore (AWO) has exercised an option with Singapore's PPL Shipyard Ltd, a subsidiaru of SembCorp Marine. It covers construction of a Baker Marine Pacific 375 ft jackup drilling rig. The option was awarded by the yard in the spring of 2004.

The rig is to be delivered in 2Q 2008, and has a contract price with the yard of $125 million. The delivered cost is expected to be $132--40 million, depending on final agreement on the cost for the drilling equipment.

Construction of the new jack up rig, the fourth unit for Awilco Offshore by PPL Shipyard, is expected to commence in May 2006 with delivery scheduled in the second quarter of 2008.

The jack-up rig will be equipped with a drilling package that will enable it to drill high pressure and high temperature wells at 30,000 feet whilst operating in 375 feet of water. It will have accommodations for 120 men.

Awilco Offshore holds an option for the construction of one further jack-up drilling rig at PPL Shipyard.