DRILLING CONTRACT HISTORICAL DEVELOPMENT AND FUTURE TRENDS
Alwilco drilling rig contract status
Awilco Drilling said Thursday that an arbitration tribunal had ruled in its favor in its second case against Singapore-based Keppel FELS over a rig contract termination. It lost the first in April 2023. Awilco Drilling in 2018 ordered a harsh environment semi-submersible drilling rig from Keppel FELS. [pdf]FAQS about Alwilco drilling rig contract status
What happened between seatrium New Energy Limited and Awilco Rig 2?
Subsequently, an arbitration award was received in November 2023 for another arbitration between Seatrium New Energy Limited and Awilco Rig 2 Pte. Ltd. (“AR2”), a sister company of AR1, in respect of the contract executed in March 2019 for the construction of a repeat midwater semisubmersible drilling rig, B382.
When did Keppel FELS vs Awilco arbitrate?
In April 2023, the Court of Arbitration ruled in favor of Keppel FELS in the Nordic Spring arbitration on the basis of relevant evidence submitted by Keppel FELS and Awilco’s subsidiary Awilco Rig 1 (AR1), while in November the Court of Arbitration ruled in favor of Awilco’s subsidiary Awilco Rig 2 (AR2) in the Nordic Winter arbitration.
Does Awilco have a financial impact on seatrium new energy?
The US$57 million settlement will flow directly from Rigco to AR2. Hence, there is no financial impact nor working capital exposure to Seatrium New Energy or the Group. Awilco is said to have emptied its drilling fleet in June 2022 following the sale of its rigs.
What happened to Awilco & seatrium?
Awilco is said to have emptied its drilling fleet in June 2022 following the sale of its rigs. In contrast, Seatrium has already bagged a number of offshore contracts for floating production, storage and offloading (FPSO) units, semi-submersible FPUs, and a number of repair and conversion agreements.
Different parts of a drilling rig
Drilling derricks and Rig Masts consist of a steel framework with a square or rectangular cross-section. Their purpose is to support the hoisting equipment and rack the tubulars while tripping pipe. The number of joints in a stand (single-double-triple) that the rig can pull is dependent on the height of the derrick. . The Drawworks is one of the most important components of the drilling rig (types of drilling rigs). The unit supplies the hoisting power, the. . The Crown Blockas a drilling rig component is a fixed set of pulleys (called sheaves) located at the top of the derrick or mast, where the drilling line is threaded. The companion blocks to these pulleys are the traveling blocks. By using two sets of blocks in this fashion,. . The Traveling Blockis a set of sheaves (pulleys) that move up and down in the derrick. The drilling line is threaded (reeved) over the. . Attached to the bottom of the traveling blocks, the hook is required to hang the swivel and rig kelly(for drilling) and the elevator bales (for tripping pipe and casing). . • (#22) is a section of large diameter pipe fitted to the top of the that the attaches to via a side outlet, to allow the to flow back to the .• (BOPs) (#23 and #24) are devices installed at the wellhead to prevent fluids and gases from unintentionally escaping from the . #23 is the annular (often referred to as Hydril named after a manufacturer), and #24 is the pipe rams and blind rams. [pdf]