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.

Jack up drilling rigs

Mobile offshore Drilling Units (MODU) This type of rig is commonly used in connection with oil and/or natural gas drilling. There are more jackup rigs in the worldwide offshore rig fleet than other type of mobile offshore drilling rig. Other types of offshore rigs include semi-submersibles (which float on pontoon-like structures) and drillships, which are ship-shaped vessels with rigs mounted in t. OverviewA jackup rig or a self-elevating unit is a type of mobile platform that consists of a buoyant fitted with a number of movable legs, capable of raising its hull over the surface of the sea. The buoyant hull enables tra. . Jackup rigs are so named because they are self-elevating with three, four, six and even eight movable legs that can be extended (“jacked”) above or below the hull. Jackups are towed or moved under self propulsion to the site. . An early design was the DeLong platform, designed by Leon B. DeLong. In 1949 he started his own company, DeLong Engineering & Construction Company. In 1950 he constructed the DeLong Rig No. 1 for. [pdf]

Jack up drilling rig design

Jackup rigs are so named because they are self-elevating with three, four, six and even eight movable legs that can be extended (“jacked”) above or below the hull. Jackups are towed or moved under self propulsion to the site with the hull lowered to the water level, and the legs extended above the hull. The hull is actually a water-tight barge that floats on the water's surface. When the rig reaches the work site, the crew jacks the legs downward through the water and int. [pdf]