Awilco AS Company News

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Keppel, Awilco at Odds on Nordic Winter Contract
Tuesday, June 23, 2020Awilco terminated the newbuild contract for the construction of a semi-submersible rig because of contract breaches.

Keppel Balks at Notice Alleging Contract Breaches, Cancellation
Wednesday, June 10, 2020Keppel said the notice came just before the next payment installment of $31.9 million was due from Awilco on June 9.

RCP Signs Supply Contract with Awilco Drilling
Friday, May 15, 2015RCP signs six figure contract to supply control systems to WilPhoenix semisub rig.

Awilco Inks LOI with Suncor Energy
Thursday, May 03, 2012Awilco Drilling has signed a Letter of Intent with Suncor Energy to extend the contract for WilHunter for the drilling of a second firm well estimated at 61 days.

AGR Lands North Sea Drilling Contract with Awilco
Friday, February 04, 2011AGR has confirmed it has entered into a Letter of Intent with Awilco to provide well management services on the semisub WilPhoenix.

Analysis: COSL Aims to Go Global
Monday, September 28, 2009COSL was once constrained to the waters offshore China, but since its purchase of Awilco Offshore, the company is on its way to becoming a leading worldwide offshore rig provider.

Verenex Deal Collapse Has China Parallel
Wednesday, September 09, 2009Chinese energy officials upset at China National Petroleum Corp.'s failed $460 million buyout offer for Libya-focused Verenex should remember the maxim "what goes around, comes around."

China Oilfield Services' Deepwater Rig Project to be Delayed
Friday, December 05, 2008COSL has delayed construction of one of the deepwater drilling rigs previously ordered by Awilco Offshore.

COSL Completes Main Body Construction for COSLPioneer Semisub
Monday, November 24, 2008COSL successfully assembled the deck module to the ship hull of its semisubmersible rig COSLPioneer.

Awilco Snags LOI from CNOOC for WilSeeker, WilBoss Jackups
Monday, October 13, 2008Awilco through Premium Drilling received a LOI from CNOOC for a two year drilling program for the jackups WilSeeker and WilBoss.

COSL Names New Jackup 'WilSeeker'
Thursday, October 09, 2008COSL has successfully hosted a naming ceremony in Singapore for its new 375-feet jackup drilling rig WilSeeker.

YRS Executes Load-Out for Awilco's Semisub WilPioneer
Thursday, October 09, 2008Yantai Raffles Shipyard successfully executed the load-out operation for the first of Awilco Offshore's three semisubmersible drilling rigs which are under construction at the YRS shipyard in Yantai, Shandong Province on September 27, 2008.

COSL Cinches Acquisition of Awilco, Strengthens Norwegian Position
Tuesday, September 23, 2008COSL completed its major acquisition of Awilco Offshore's shares in the largest 100%-stake overseas acquisition in the non-oil-and-gas category accomplished in the energy sector in China by value to date, and one of the highest strategic importance.

BP Contracts Borgland Dolphin for Skarv Ops Offshore Norway
Thursday, September 18, 2008BP Norge has entered into a fixed term contract with Dolphin AS for use of their semisub Borgland Dolphin. The contract is for 433 days commencing January 2010 for pre-drilling in the Skarv field.

Awilco Highlights Jackup Commitments, Q2 Earnings
Thursday, August 21, 2008Awilco Offshore ASA has provided an operational and financial update for the quarter ended June 30, 2008, which included information concerning the Company's jackup commitments and total revenue earnings.

Awilco Nabs LOI for Use of WilForce Jackup in Libya
Monday, August 11, 2008Awilco Offshore through Premium Drilling received a Letter of Intent from an international operating company for a drilling program of two firm wells plus one optional well for the jackup drilling rig WilForce in Libya.

Awilco Nabs LOI for Drilling Program Offshore Indonesia
Tuesday, August 05, 2008Awilco Offshore received a LOI from an International Operator, for a drilling program in Indonesia of 3 firm wells using the jackup drilling rig WilCraft. The estimated contract value for the firm period of 90 days is $17.5 million.

China's Commission Gives Go Ahead for COSL's Acquisition of Awilco
Thursday, July 31, 2008The National Development and Reform Commission of the People's Republic of China has granted approval to the proposed acquisition of the entire issued share capital of Awilco Offshore by COSL.

COSL Gobbles Up AWO, Now Holds World's 8th Largest Rig Fleet
Thursday, July 10, 2008China Oilfield Services Limited announced that it has purchased Awilco Offshore for a consideration of approximately $2.5, giving the Chinese firm the world's 8th largest rig fleet, including rigs currently under construction.

COSL to Launch Cash Tender Offer for 100% of Awilco's Shares
Monday, July 07, 2008China Oilfield Services Limited announced that it has reached an agreement with Awilco Offshore ASA to launch a recommended voluntary cash tender offer for 100% of the shares of AWO for approximately US $2.5 billion.

ConocoPhillips Extends Rig Accommodation Contract with Awilco for $350MM
Monday, June 23, 2008Awilco Offshore has reached an agreement with ConocoPhillips Skandinavia to extend the contracts for the accommodation units Port Rigmar and Port Reval for an accumulated period of approximately five years.

CNOOC Arm in Advanced Talks to Buy Awilco
Friday, June 20, 2008A consortium led by the oil-services arm of China National Offshore Oil Corp. is in advanced talks to buy Norwegian oil drilling contractor Awilco Offshore ASA in a deal that could be valued at more than $2 billion.

Awilco Confirms Outsiders' Interest in Acquiring the Company
Friday, May 30, 2008Awilco Offshore confirms that a third party has expressed an interest in acquiring the company, but an agreement has not been reached with the interested party.

Awilco Takes Delivery of WilForce
Wednesday, March 19, 2008Awilco Offshore has taken delivery of its fifth Ultra Premium jackup drilling rig. The rig has been delivered from PPL Shipyard in Singapore.

Keppel Receives $40,000 Bonus for Early Rig Delivery
Monday, February 18, 2008Built to Keppel's proprietary KFELS B Class design, the rig was delivered 10 days ahead of contractual schedule to Awilco without any lost time incidents during its construction.

Awilco's Newest Jackup Nabs $30M Contract in Libya
Wednesday, January 23, 2008Awilco Offshore through Premium Drilling has received a Notice of Tender Award from Repsol Exploration Murzuq S.A. for an estimated period of five month drilling program offshore Libya for the jack-up drilling rig WilForce.

YRS Updates on First and Future Constructions
Wednesday, January 23, 2008The construction of YRS' first DP3 semi-submersible drilling rig should be completed by the end of 2008. Future hopes to construct two new block fabrication facilities would enhance YRS' production capacity.

$335.6 Million Gets Awilco the WilPromoter Offshore Rig
Tuesday, January 22, 2008Awilco Offshore (AWO) has signed a US$335.6 million loan agreement for its third semi rig called the WilPromoter. The loan agreement is with Citibank, Eksportfinans/GIEK and The Export-Import Bank of China.

WilBoss Will Travel: Awilco Preps Rig for Offshore Vietnam Contract
Tuesday, January 22, 2008Awilco Offshore has taken delivery of its fourth Ultra Premium jackup drilling rig. The rig has been delivered from KeppelFELS Shipyard in Singapore on schedule and within budget.

Contract for WilCraft Extended from 13 to 16 Wells
Wednesday, November 28, 2007Awilco Offshore and Premium Drilling report that Peak Group (Asia Pacific) Pty Ltd has exercised 3 of the 11 optional wells on its contract with the WilCraft jackup for operations offshore Australia.

Awilco and BP Firm Up WilPioneer Contract
Monday, November 26, 2007The contract is based on the firm drilling program at Skarv for 16-18 wells, with an estimated duration of 3 years. The total contract value for this period is approximately US $330 million, plus mobilization costs.

Noble CEO's Sudden Resignation Renews Driller Merger Talk
Friday, September 21, 2007The unexpected resignation of Noble Corp.'s chief executive Thursday night has sent the company's shares soaring and jump-started speculation that the offshore driller is considering a merger with a rival.

ConocoPhillips Extends Contract for Port Rigmar
Monday, September 17, 2007Awilco Offshore and ConocoPhillips have agreed on a one-year extension of the existing contract for the accommodation unit Port Rigmar at the Ekofisk Field.

Yantai Raffles Awards 5th Semisub Option to Awilco
Tuesday, September 11, 2007Awilco Offshore has been awarded an option to build a possible fifth semisubmersible drilling rig at Yantai Raffles Shipyard. The option can be exercised until end December 2008.

WilBoss to Head to Vietnam
Monday, August 20, 2007Awilco Offshore through Premium Drilling has entered into a contract with Premier Oil Vietnam Offshore BV for the jackup, WilBoss.

Awilco Takes Delivery of the WilSuperior
Tuesday, July 24, 2007Awilco Offshore has today taken delivery of its third ultra premium jackup. The rig has successfully been delivered from PPL Shipyard in Singapore.

Awilco Offshore Secures Long Lead Items for a Fourth Semisub
Friday, June 29, 2007Awilco Offshore ASA has signed a contract for a drilling package for a semi-submersible drilling rig with National Oilwell Norway AS.

Awilco Completes Bond Issue
Tuesday, June 19, 2007Awilco Offshore ASA reported that a bond issue that it had announced on Monday was significantly oversubscribed.

Ocean HeavyLift Names New Managing Director
Thursday, June 07, 2007Ole Jacob Person, Managing Director of Ocean HeavyLift ASA, has informed the board of directors that he wishes to work with other opportunities in Awilco.

Awilco Offshore Receives Unsolicited Offer for Accommodation Units
Tuesday, June 05, 2007Awilco Offshore has received an unsolicited conditional cash offer for its two accommodation rigs, Port Reval and Port Rigmar, at US $325 million in total.

Hydro Increases Awilco Contracts to 8 Years
Friday, May 25, 2007Norsk Hydro Produksjon AS has increased the firm contract length for the two semisubs, WilInnovator and WilPromoter, to 8 years each plus options.

Awilco Exercises Last Jackup Option with PPL Shipyard
Tuesday, April 03, 2007PPL Shipyard has signed a contract with Awilco Offshore ASA for the construction of a Baker Marine Pacific Class 375 Deep Drilling Offshore Jackup.

Hydro Secures Drilling Capacity for Troll
Thursday, March 29, 2007Norsk Hydro has entered into two contracts with Awilco Offshore for rental of the two new-build semi-submersible drilling rigs WilInnovator and WilPromotor.

Awilco Offshore Exercises Option for Eighth Jackup
Thursday, March 01, 2007Awilco 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.

Oil Workers Evacuated from Accommodation Rig in North Sea
Friday, February 23, 2007Total Norge is evacuating nearly 300 workers from an accommodation rig in the North Sea after two of the unit's twelve anchor chains broke during a storm with winds reaching near hurricane strength.

OffRig to Build Third Semisub at Yantai Raffles Shipyard
Wednesday, January 31, 2007Awilco Offshore has, through its fully owned subsidiary OffRig Drilling, exercised an option with Yantai Raffles Shipyard in China to build the company's third semisubmersible drilling rig, WilPromotor.

Awilco to Apply for Listing on Oslo Bors
Tuesday, January 16, 2007In line with the strategy set out by its Board of Directors, Awilco Heavy Transport ASA (AWHT) has initiated a process to apply for listing of its shares on Oslo Bors.

Awilco Offshore's Stake in OffRig Reaches 91.2%
Tuesday, January 09, 2007Awilco Offshore has on January 8, 2007 acquired additional shares in OffRig Drilling which has caused its ownership in OFRD to reach 91.2%.

Awilco Takes Delivery of WilCraft
Wednesday, December 27, 2006Awilco Offshore has taken delivery of its second ultra premium jackup drilling rig. The rig has been delivered from Keppel FELS Shipyard in Singapore as scheduled and within budget.

WilSuperior Wins Work Offshore Vietnam
Friday, December 22, 2006Awilco Offshore through Premium Drilling has entered into a Letter of Award for the jack-up drilling rig WilSuperior.