Repeat order for a semi-submersible drilling rig from Awilco

The terms of the order are subject to finalisation and the signing of definitive agreements by the beginning of April, Keppel said in a statement to the Singapore stock exchange. Keppel Offshore’s yard Keppel FELS will be undertaking the contract. The mid-water semi-submersible drilling rig for harsh environment use is scheduled to be completed in the first quarter of 2022. The rig will be built to Moss Maritime’s CS60 ECO MW design, and is meant for mid-water operations in depths of up to 1,500m in north west Europe. The repeat order represents the exercise of an option that Awilco had as part of an earlier US$425 million contract for a similar rig signed in March 2018. Awilco has separate options to order up to another two rigs to be exercised in 2020 and 2021. Keppel said work on the first rig is progressing well, and the yard will be able to benefit from economies of scale and cost efficiencies from undertaking a repeat project.