Awilco Offshore Receives Unsolicited Offer for Accommodation Units

Awilco Offshore has received an unsolicited conditional cash offer for its two accommodation rigs, Port Reval and Port Rigmar, at US $325 million in total.

The company will evaluate the offer and consider other strategic alternatives, such as a de-merger of the accommodation business into a separate stock-listed entity, or to retain the accommodation rigs in Awilco Offshore.

Awilco Offshore has invested in eight jackup drilling rigs (of which six are under construction), three semisubmersible drilling rigs under construction and two accommodation units in operation. The company also holds one option for the construction of one further semisubmersible drilling rig.