Awilco Offshore Exercises Option for Eighth Jackup

Awilco Offshore has exercised an option with PPL to build a 375ft jackup with a rated drilling depth of 30,000 ft. The rig will be named WilConfidence.

The rig is to be delivered in the second quarter of 2009, and has a delivered cost of US $149 million. The delivered cost includes contract price with the yard, site supervision, pipe handling equipment, spare parts and finance costs during construction.

Awilco Offshore has one remaining option for the construction of one further semisubmersible drilling rig at Yantai Raffles Shipyard in China.

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