UK: WilPhoenix Stays with Premier Until 2014

UK-based drilling contractor Awilco Drilling PLC announces today that it has signed the contract with Premier Oil UK Limited for the provision of WilPhoenix semi-submersible offshore drilling rig for a term drilling program.

The program will start in direct continuation from the previous Premier contract and is firm until 28th February 2014 with options for up to an additional 250 days. The contract is expected to commence late Q4 2012.

According to the letter of intent signed in April between the two companies, the firm contract value for the firm period is estimated to be USD 148 million.

WilPhoenix is one of Awilco Drilling’s two Enhanced Pacesetter semi-submersibles and is equipped for drilling in water depths up to 1,200 ft.

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Offshore Energy Today Staff, May 8, 2012; Image: Awilco Drilling PLC