Awilco Reaches Agreement with Petrojack for Jackup Sale

Awilco Offshore ASA and Sinvest ASA have reached a conditional agreement with Petrojack ASA for the acquisition of their ownership interest in three jack up rigs under construction in Singapore.

The purchase price is based on an aggregate price for all three rigs of approximately US $600 million. The agreement is conditional on a final sale and purchase agreement, completion of due diligence and approval by the general assembly of Petrojack ASA.

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