Awilco Offshore awarded Letter of Intent (LOI) for operation offshore China(13.10.2008)
Awilco Offshore through Premium Drilling has received a Letter of Intent from China National Offshore Oil Corporation Limited (CNOOC Ltd.) for a two year drilling program for the jack-up drilling rigs WilSeeker and WilBoss.
WilSeeker is scheduled to commence operation upon completion of its current operational preparation. WilBoss is scheduled to commence operation upon completion of its work with NIDO.
CNOOC also has the option to contract a third rig, WilSuperior, on the same terms as above. If the option is exercised, start-up for this rig will be at completion of its work with Thang Long and Truong Son.
WilSeeker, WilBoss, and WilSuperior are all equipped for high pressure/ high temperature drilling in water depths up to 375ft.
Oslo, October 13, 2008
For further information, please contact:
Henrik Fougner, CEO
Telephone: +47 22 01 43 00
Arnstein Hernes, CFO
Telephone: +47 974 06 241
Awilco Offshore ASA is an international offshore drilling contractor owning and operating six jack-up drilling rigs and two accommodation units. Another two jack-up drilling rigs and three semi submersible drilling rigs are under construction. The company also holds options for the construction of two semi submersible drilling rigs. China Oilfield Services Ltd. has recently acquired about 99% of Awilco Offshore.