Awilco Offshore Secures Long Lead Items for a Fourth Semisub

Awilco Offshore ASA has signed a contract for a drilling package for a semi-submersible drilling rig with National Oilwell Norway AS. This is the fourth drilling package AWO has ordered. AWO has three semi-submersible drilling rigs under construction at Yantai Raffles Shipyard in China, and an option for a fourth rig. The option for the fourth rig can be exercised until November 2008.

This fourth drilling package is an upgraded version compared to the three drilling packages the company already has ordered. The total contract value for this drilling package is US $197 million.

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