AGR Lands North Sea Drilling Contract with Awilco

AGR has confirmed it has entered into a Letter of Intent with Awilco Drilling Limited to provide well management services on the semi-submersible drilling rig WilPhoenix.

The US $7 million agreement is to undertake activity on one firm well with six optional wells in the UK Continental Shelf.

Sjur Talsdad, CEO of AGR Petroleum Services said, "This is yet another indication that activity in the North Sea is returning to form and we look forward to forging a successful partnership with Awilco Drilling Limited. Working on board the newly refurbished drilling rig will give our engineering teams a modern and cutting edge environment in which to operate."

WilPhoenix is in the final stages of a substantial upgrading programme at Remontowa Shipyard in Poland and is scheduled for delivery around the end of the first quarter 2011.

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